If they truly do prove 2.5tcf of gas that flows with multi potential for more I doubt the market includes a discount of 75% risk probability of development and prices it at only 340 million MC.
Otherwise every oil and gas stock on the ASX is currently overpriced e.g. STX which probably has a 60-70% chance of field development at WE and SE should really be priced at 600-700 million.
PAC PARTNER JULY23 REPORT, page-44
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