Vpe have stated in their presentations that their target is a $200mil market cap. 500BCF of 2p reserves would be worth in excess of $200mil. So I was refering to a few years down the track rather than next week. The Surat basin is a company maker when it comes to csm.
"four permits covering gross 1,550 sq kms in proven Coal Seam Gas (CSG) basin - Surat Basin Queensland"
"gross CSG resource potential of ~1.2 TCF+ with net 500 BCFG+ to VPE (unrisked"
"drilling pilot production wells now in VPE Don Juan CSG Project adjacent to Sunshine Gas Lacerta Walloon CSG Project – 1.1 TCF (3P)-Sunshine market cap A$470mill –at ~A$50 mill prior to start of Lacerta CSG Project drilling"
low risk high reward play. The size of the acreages could easily see a significantly larger reward. cheers
VPE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
