Hey @hkhf is does appear there could be a rather large potential...

Hey @hkhf is does appear there could be a rather large potential to increase the reserves and the associated NPV.

The NPV of AUD$7 to AUD$40/share was based on 1P and 2P in the last reserves update back Nov 3 2021. Also note it appears to be based on only revenue projections of US$321m/yr and 25m to 75m shares of dilution for Phase 2 funding. Since then the expected output of LNG for Phase 2 has increased significantly and in a recent video Stefano mentioned he expected revenues of about US$400m/yr for Phase 2.

So US$400m/yr v US$321m/yr is about an increase of 25%.





Also in a recent announcement in the last few months it was mentioned gravity and aeromagnetic surveys were done on the reserves area (14% of the land area) which suggests there is potentially more methane and helium in the reserves area itself than previously thought.



So in summary:

1. The revenues might be about 25% higher than used for the Nov 2021 NPV calculations

2. There might be more methane and helium in the reserves area itself per the gravity and aeromagnetic surveys

3. Of the 86% of the land area outside of the reserves area this latest video mentions 110 square km of sandstone with 12% helium recorded there (4 times the 3% helium in the reserves area) and a further coal seam area of 500 square km where methane and helium are being produced from one well thus far.

If you consider the current Phase 2 plans capture about 8 to 10% maybe of the global helium market there appears to be potential long term to expand to maybe 20% or 30% + of the global helium market if this potential is proven up into reserves.

Also consider only about 20 wells so far over a small area. With 300+ wells for Phase 2 over a larger area there does appear a strong potential chance of some reserves updates and associated NPV updates in the next few years.