weekend lesson about mel, page-4

Open market gas price around $4 per GJ or 10^9 Joules Peta is 10^15

therefore 1PJ is 10^6 times more than a GJ so open market price per PJ is around $4million ish

P2 or sometimes referred to as P50 is 50% confidence that that will come out of the ground

P3/ P10 is 10%confidence P1 or P90 is 90% confidence

Do it!....The pure maths on MEL's resource is just wondrous!


Trouble is you need transportation, a customer and leaky wells when the industry is under the spotlight as it is ain't a great look hence a poxy MC of around $90M

My figures here are rough enough for my own use but come with a DYOR recommendation