latest gas flow reports?, page-15

The bar has being raised for NXS.

Chk out ORG's purchase of WPL's Otway basin assets.

The deal is for $712.5m for Woodside's 51.55% interest Thylacine & Geographe fields in that project. The gas is piped to Otway at rate of 205 TJ/day (75 PJ/yr).

By my calcs, after std. conversions et al, WPL's net share of reserves amount to ~88 mmboe or 512 PJ reserves which was sold at a metric of $8.10/boe (or $1.39/GJ) to ORG, for $712.5m. (eg ~88 mmboe * $8.1 = $712.5m)

This metric is much higher then the proposed AED-NXS transction for LT at A$4.8/boe or A$0.833/GJ for A$310m.

Hope NXS can use this analogy & negotiate a better price in the future, should they still want to flog 50% of LT to someone else.

After all Cash is King!!