based on march quarterly figures. At $3.00 a PJ and converting 120MT using UCG we have in ground value of 3.84 Billion dollars worth. Now using toadys numbers of 300MT in Australia(to be confirmed with drilling) and 300MT in india(not jorc) does this translate to 5 times 3.84billion to 19.2 billion worth of gas. Wont be long before majors jump onto this and back commercial trial due to start in 3 weeks. Other views appreciated
CNX Price at posting:
61.5¢ Sentiment: Buy Disclosure: Held