Ann: Company Insight - Significance of Valhalla N, page-8

re: Ann: Company Insight - Significance of Va... Just coming back to the word massive.

I know there has been much cross thread discussion about the two Canning Basin landlords and which is better etc etc.

But what is lost in all of this is it really doesn't matter one bit. Between NSE and BRU, they have multiples of the Cooper Basin shale, which is likely to also contain huge amounts of condensate and oil. Just think about that for a moment.

Companies are blowing through the roof on the basis of fairly small chunks of the Cooper. Compare that to the MILLIONS of acres BRU and NSE own.

BRU is proving this is not junk territory. It is seriously juiced up acreage and they have barely scratched the surface. It's just a corner of the Canning. Consider that the Laurel Formation runs for hundreds of kilometres!

That's just one formation!

My one concern is that I do hope the market wakes up and re-rates them both before they are almost stolen. We would all do extremely well from a 1-2billion takeover in 18 months, but that is really stealing the basin.

The Canning has the potential to make 5-10billion companies out of both. Possibly more considering the risked recoverable GIP of 200+ TCF.

Compare that to the North West shelf and it just makes you giggle.

Hopefully BRU can get to a size of significance in order for FIRB to come into play.