Ann: Independent Resource Statement Vic/P47, page-19

It is huge news and well worth the initial expenditure of around $600m.

I have done some new calculations and at the current $10/GJ price in Victoria, after drilling and infrastructure costs that would leave around $6.7b in revenue for the project just based on the 25 year life without possible expansion. Less operating costs etc and that leaves a huge margin for profit.

Starting to get very attractive now and around $10m mc it is ridiculously cheap. At 1% valuation of the revenue this thing should be $67m mc (33c), and once drilling gets underway with success expect to see a 10% valuation of $670m ($3.30+).

Once the market wakes up along with all the news flow to come, this thing will fly!