Can someone please confirm my numbers on an "average case" basis?
428PJ of 2P @ $4 per GJ ($6 - $2 cost) = $1.7 billion
Roughly 340 million shares, which gives gross sales per share of $5
Obviously there are a lot of costs that still need to come out of this, but equally there is no conventional reserve recognised yet, which should increase with fewer costs than unconventional.
Am I getting my calculations wrong, or should this still be a screaming buy, provided you believe the industry will be given a green light in NSW?
Please point out my mistake before I hit the BUY button again!
share price, page-4
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