Agree its under the radar. What I have seen however is an understanding of ASX investors that once proven 1tcf of gas reserves is worth potentially $1 billion in terms of market cap. That correlates to the buy out of Pure Energy back in 2009.
The maiden reserves from Sproule are hopefully not far away now and maybe the reserves could be 0.5tcf or 1tcf + given 20-30 successful wells thus far and a 4.9tcf contingent resource (higher now if you consider the recent wells were outside the resource area and add 30+ km of gas). Also getting some production going supplying nearby pipelines right near power stations will also showcase it as moving from explorer to producer.
KKO Price at posting:
9.1¢ Sentiment: None Disclosure: Held
