bg: slow to shore up reserves, page-18

Happy with that description of ESG as the Tier 1 , No.1 takeover target. That is why I hold the stock, and I believe action imminent.

And I take the point that all reserves are not equal, and given we are all buying (shares in )the companies, its all about the best guesstimates of ultimate delivered gas-the "ultimate maturation" as SF elegantly puts it, and to which we all aspire!

But psi81 and SF, given that current market prices (which we have to pay) are so different, are you guys really implying that ESG and BOW have so many times more "unfound" gas compared to MEL?

A bold view, I would have thought.

Market capitalisation less cash ($m):

MEL 74
BOW 195
ESG 603

On an equity basis, last reported 2P plus 2C (PJ):

MEL 1574
BOW 2128
ESG 3273

On an equity basis, last reported 3P plus 2C (PJ):

MEL 3416
BOW 4590
ESG 4102