abn amros coverage and expectations, page-17

Jam,

Thanks for that post.

The key stamements in it (from my perspective) are:

"...ESG’s objective was to upgrade the 1,300PJ of 3P reserves to 2P status by year end. The Bibblewindi pilot should COMFORTABLY ACHIEVE THIS..." (my emphasis)

and

"Application of the price paid by AGL Energy for CSG reserves in NSW would see A DOUBLING OF THIS VALUE.." (my emphasis)

It continues...

"...Conversion of ESG’s 4,000PJ of contingent resources to reserve status – anticipated through 2010 – would see our valuation and target rise to A MULTIPLE OF CURRENT LEVELS...." (my emphasis).

Y