Looks good to me, just cant believe the SP. Comet cap is $185M with massive proven reserves in Muhalo 60km from the Gladstone export pipeline. The JV is progressing development and FID by the end of this financial year. On top of this massive proven CSG reserves in Galilee basin plus partly proven sandstone reserves in Galilee deeps.
Compared to other explorers eg Galilee energy cap of around the same market cap. No proven reserves. All probable reserves in Galilee basin with no pipe yet. Comet has more Galilee reserves and sandstone and is moving to gas producer with Muhalo but they have the same cap.
Either Galilee is way overpriced or Comet is dirt cheap....
Ann: Mahalo Initial Development Plan Update, page-4
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