Perth Basin Norwest Energy, page-4

Found the figure I was looking for in relation to the Min Res takeover.

"In December 2022, Mineral Resources (MinRes) made an unsolicited takeover offer of $403 million

While this offer was knocked back, a revised offer of $497 million won over the Norwest board in January 2023"

Min Res at the time of the offer already owned 19.9% of NWE which then placed an enterprise value of around $600 million on NWE's 20% share and overall dollar value of the discovery at appx $3 billion (20% NRE, 80% Min Res).

Potential value of TEG's 50% of L7 with a similar discovery would be worth 2.5 X $600million or $1.5 billion.

Back of enevelope calculations (may be wrong or contain errors) but overall there appears significant upside if well successful and can match Lockyer.

Worth a further punt for a short term result.

Note DYOR as these are just ramblings of an old man with some profits to play with from other investments.