1p - what is it, page-4

For those who came in late & who love numbers read on.

Devon in Nov '08 acquired Chevron's 44% stake in the Drunkards Wash field which was 51000 acres & producing 40MMCFD gas.

Net deal was worth US$681m (A$1.047b at flatrate of 65c)
Proved reserves of 1P-210 bcf
Transaction metric: US$ 3.24/mcf (or A$5/mcf)

So just looking at MAE's 1P-152 bcf at A$5/mcf is worth A$760m alone.

Hope JC negotiates a decent deal with interested parties.