If the Shale Gas in the Cooper Basin is de-risked and is anywhere near the size they think it is 40-80 tcf. Based on the acquisition of Chesapeake Energy by BHP for $4.75 Billion which roughly had 10 tcf of gas reserve.
On a very rough basis and I know they are not directly comparable but I would think on a very rough basis if this is anything to go off and the BPT reserves come in on the mid-range say 50 tcf and we value each 10 tcf at $2 billion that would be a valuation of $10 for BPT. I know this is abit of pie in the sky sort of stuff at the moment, til things get up running with the shale gas in Australia, but I think that gives a rough idea of the sort of rises there could be in the BPT share price.
27 million crossed, page-9
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