From my analysis of Karoon, they owned 40% of the 3.25Tcf resource, giving about AUD $0.50/GJ (1GJ ~ 1000 cf) for the US$600 transaction with Origin, there was also a USD 200m upside to this transaction for future exploration success.
On an equivalent basis, this would give 20% of a 5Tcf resource a value to CVN of about AUD 500m, compared with the 200m suggested by the previous poster.
Getting to a 5 TCF resource will be an uphill run, but if all the stars align!
Cheers
Pecs
From my analysis of Karoon, they owned 40% of the 3.25Tcf...
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