mel so undervalued

Ivor's analysis today shows the value of BOW at the ESG takeover price of 50c per Gj of 3P is $3.91 per share, or four times today's price.

For MEL, excluding ANY value for conventional gas, Ivor's equivalent is

$4.60 per share, or 16 times today's price.

Then add MEL's conventional gas, add fewer technical difficulties in bringing the gas to market than for ESG (not much water) and add for a better location (nearer major market)should give around $5 or more for MEL.

Once the SPP is complete, I can't see MEL's price staying around these levels for long.

Bellas