...continued from previous post...It’s interesting to note that...

...continued from previous post...

It’s interesting to note that we’re currently showing production rates from Orbost around 2/3 of the final 68 TJ/day, implying we’re producing the equivalent of about 0.985 mmboe per quarter:

I appreciate there’s a number of other considerations to take into account, but based on these data points there appears to be a significant disconnect (at least on a historical context over the last few years) between production levels and the current MC/SP.

Recent data for the Orbost component of this ‘disconnect’ is loosely implied here:

In short, it seems to me that COE is undervalued at its current SP, with indications fair value would be closer to mid 40s at the moment, and when Orbost attains 68 TJ/day, then a significant rerate to $1+ should be expected.

Interested to hear others thoughts/calcs on what they expect the SP to be when Orbost production target is achieved.

Cheers

Freighter