Ann: Share Placement Agreement and Process Deed S, page-12

re: Ann: Share Placement Agreement and Proces... Pogues,

Combining its 3P and 2C csm reserves, MEL had 3,416 PJ some time ago, based just on part of PEL16. Like ESG, MEL has clearly been hiding under a bushel for some months now, not wanting to rush out upgrades. Importantly, that does not include the potentially massive Kingfisher et al convential resource, which presents huge logistical advantages in ramping stages.

So as HS says, plenty of gas! I recall a 10tcf GIP estimate.

On the same measure of 2P plus 3C, ESG had 4102 PJ and BOW 4590 PJ some time ago, although both have publicly estimated more GIP than MEL.

Interesting to reflect on market capitalisation less cash for each of these "independent" potential gas suppliers.

ESG $ 618 million
BOW $ 200 million
MEL $ 68 million.

Am sure Maurice's new Chinese best friends are scratching their heads over that little anomaly!