i would think that most esg gas would be more valuable than vpe's - however rbs morgans only valued don juan at 19c per gj for 2p ( seams a bit thin and they are not getting flow rates that esg should get from a fair few of theirs ) and atp574 and pl 171 were valued at 16c per gj for a gip estimate which i guess is a bit rougher than a 3p ( bow sold some of their interests at this ).
574 and 171 are in middle of qgc leases but there hasn't been anywhere near the work done c.f. esg - i thought that rbs morgans were conservative but i would say they should know more than me
still i believe ya that your estimates would be closer to the money than the low ones for vpe done by rbs- i said in a post that a takeover would likely be successful at $1.50 to $2.00 and i still believe that - remember we have agl as ya mentioned, mel in the northeast there and santos, beach etc with their moomba hub all as potential competitors- any other gas producers in nsw??
i did ask in another post if gas from offshore (vic?) makes it to sydney - we also have that exploration off the ne nsw coast by ( bounty? ) - that could be a way off finding let alone delivering much
i hear some of you say newcastle - well it appears more likely that only two big and one small lng plants will be built at Gladstone so whether that opens up an opportunity or means it is a lot less likely i will let others speculate!!
ESG Price at posting:
73.0¢ Sentiment: LT Buy Disclosure: Held
