PE would be very conservative to start with. As mentioned, the possibility for gas production to decline after an initial recovery is there. David Wrench did have a contrary view and said the amount being produced wasn't a fantastic/miraculous turnaround but that production was steady and not showing signs of declining. I would say its fair to have it around 4-5x PE once positive earnings start to come through and if they can continue on that gas growth then you could slowly begin to increase the PE with more assurance.
From memory they were aiming for 35-40TJ/day by Mar25. This in theory leaves 15-20TJ/day to go to TPS with 20TJ/day tied up to Dyno/Copper Refinery. 15-20TJ/day is where TPS will be in combined cycle and making serious $$$.
QPM Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
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