Hi @chirofalls
The information I have from July 2008 is that QGC reserves were reported as 2415 PJ.which is equivalent to about 2.3 Tscf. QGC's reserves were from producing wells, which are worth more than non-producing reserves, I would think. In addition, there would have been contingent resources volume, but I don't have that figure. Their MC in July 2008 was $A5.6 bn and the share price $A5.75, so that works out as 0.974 bn shares. The sale price of natural gas at that time was about $A8/GJ?
We do not yet know what EXR reserves might be, but the CR amount to 1.3 Tscf in the sandstones and 2C 3.6 Tscf in the coals (the Mean CR for the coals was reported as 5.5 Tscf). Would you agree, if EXR report at least 1 Tscf as Reserves, then the share price should be at least $A 2 based on the reserves plus risked contingent resources?
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