some figures posted, with thanks to lelo-gas on lse basically...

some figures posted, with thanks to lelo-gas on lse
basically eme related, and as outlined, eme has a suite of company making projects in the go (which is why eme is rerating)
but sgc is either very undervalued in comparison to eme, with sgc having a 50% share of dempsey, or eme is overvalued, which does not appear the case when looking at these figures.so will sgc now rerate- if the overhang from placing is nearly gone
may well do, particularly if the x zones are better than anticipated

Yes, we've had a really good rise this week, but for any potential new investors looking in, it must be made clear that this is not a spike & is only just a start of the re-rate.
We've had a recent success in Duyung, Indonesia. There we were targetting 0.5 TCF, with a 10% WI, so our interest is 0.05 TCF. It came in exceeding expectations. It is now, following results of Mako South-1 thought to be probably much larger than the 0.5 TCF but for arguments sake, we'll just use the 0.5 with a bare minimum gas price of $2/mcf.
1 TCF = 1,000,000,000,000 cu ft
= 1,000,000,000 mcf
Value @ $2 = $2,000,000,000 = £1,500,000,000
0.05 TCF = £75,000,000
Divided by 400 million shares in issue gives 18.75 p per share. Yes, Duyung was really an appraisal well with further drilling required and quite likely that no gas will get to market for a further 2-3 years, but it bodes us well for longer term investors.
Now onto the current drill, Dempsey. This drill in a gas producing area is targetting 1 TCF & we have a 30% WI. All RNSs have been positive, showing 'significant' gas shows in all expected layers & some that were unexpected. We are expecting TD in a few days, followed by wireline logging. This will tell us exactly what we've got. Infrastructure to connect to the main pipe line is literally metres away & can be producing revenue in a matter of weeks.
So, as before, 1 TCF value £ 1,500,000,000
30% value to us £450,000,000
Divided by 400 million shares in issue gives £1.13p per share !!!!!!!
Then we go onto Alvarez, targetting 2.5 TCF, from a known gas producing well. Then further wells in the Dempsey area.
And how about China, in the longer term. 3D seismic just completed, exceeding expectations. A third prospect, Pearl, now being added to Jade & Topaz, to make a combined resource potential of 600 mmbbls of oil.

sgc mc looks particularly skinny when compared-i do not hold sgc good fortune all