additional reserves, page-13

Just had another read

"The Board of Golden Gate Petroleum Ltd (ASX: GGP) is pleased to announce a reserve report with proved (P1) and probable (P2) reserves"

So really can only value the 1P reserves and they have an NPV of $51M = 1.8c with the bulk being attributable to the Permian Project

I'm not sure what 2P probable reserves are worth but you can't give them the same value

Still even on 1P alone it seems cheap

I guess flow rates are the big thing holding it back