Well I think KKO was stating about $10USD /GJ so approx...

Well I think KKO was stating about $10USD /GJ so approx US$10/mcf they can get for their gas in South Africa



That means the 4.9tcf contingent resources (should be higher now given recent gas zones outside that area I believe) is worth US$49 billion of inground value.

Hypothetically if they just drilled to prove up reserves then each 1tcf of reserves proven is worth maybe $1billion in marketcap in s takeover situation maybe.

So maybe if lets say 0.5tcf was proven into reserves initially with scope to grow with more drilling over time. Then maybe that means the marketcap is worth $500m in a takeover situation whilst alternatively that 0.5tcf is worth US$5b of inground value. So the company could be taken over for $500m or harness that US$5b of inground value into production from what I understand wells have payback in less than a year. Assume maybe KKO can sell that US$5b in gas in 10 years (maybe longer or shorter?) US$500m or AUD$715m per year. Given huge demand for energy in South Africa who knows maybe they can sell it quicker. For instance by 2035 South Africa gas demand is expected to grow to about 1400 million GJ/yr which is about 1.4tcf of demand per year if I calculated that correctly.

So KKO is worth a certain amount if just proven reserves in the ground and then something else once in production as a multiple of ebitda or revenue I guess. For reference WDS Woodside's marketcap is about x7 it's revenue. So if KKO can ever get to AUD$500m+ in revenue maybe it's marketcap will be well into the billions super long term.