MEL 0.00% 0.4¢ metgasco ltd

ann.out increase gas, page-11

  1. 800 Posts.
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    Reserves taken from Baillieu research and the added reserve upgrade from Mel's recent Pel 13 ann.

    Australian CSG Reserves
    (Petajoules)

    Company 3P 2P
    QGC (BG) 14261 7245
    Origin 6206 4786
    Conoco Phillips 6206 4786
    Shell 4129 2636
    PetroChina 4129 2636
    AGL 3506 2029
    Santos 3283 2035
    Bow Energy 2574 114
    Metgasco 2239 397 2541.7 427.9 post ann 3p 2p
    Sinopec 2190 1689
    Petronas 2112 1377
    Eastern Star 1818 988
    Kagas 1152 751
    Molopo 828 345

    The increase hasn't pushed us up the ladder much with an increase of overall 3P reserves of 13.5% and 2P reserves of 7.8%. I guess this is why the sp remained flat imo.
    I think we need to sure up reserves quickly rather then steadily with the the likes of other gas players waiting for their reserve upgrades, which may potentially dwarf our reserves and leave us out of the race to potentially secure gas contracts with the majors down the track.
 
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