Best estimate for Becos is 5million barrels of oil. TEG has a 50% interest. High estimate is 21million barrels of oil….wouldn’t that be an interesting outcome!! Oil is $115A per barrel.
In ground speculative value- ?
Current market cap is about $15m for TEG.
I averaged down the past two weeks.
They are presenting in Perth ( have a booth- don’t mention “booth”in early September. The Good Oil Conference.
I am thinking this is cheap, but admit to being slightly shaken by the Booth outcome. Grit the teeth and carry on, for me.
I believe they are trying to bring forward the drilling at Becos.
Given the Booth disappointment, I would think they are looking at all possibilities to regain momentum. I am an eternal optimist!!!
Ann: Perth Basin Exploration Presentation, page-47
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