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Ann: Triangle signs rig for Perth Basin well, page-49

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18/06/24

17:14

Post #: 74374656
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Originally posted by Ringyding46 ↑

Well look at it this way, lets assume we get to drill Booth and Becos before any takeover etc and they both come in on mid range best estimate.

Booth best estimate 279bcf gas - TEG share is approx 140bcf times $2 = $280 milly (we aren't including huntswell deep, mtn bridge sth or MH2 updip etc)

Becos oil prospects best estimate 5MMbbl - TEG share is approx 2.5MMbbl times $20 per bbl = $50 milly

Add them together and you get approx $330 milly which is 10x current market cap so 20/21 cents per share. Not bloody bad.

However, page 7 of the April Quarterly activities and cashflow report has a list of TEGs oil and gas prospects in L7 and EP437 and their net 50% share. Some will come in over and some will come in under but that's life and exploration.

Take the best estimate for the total for each and you get 268bcf times 2 = $536 milly and 18MMbbl times $20 = $360 milly for L7 plus 3.5MMbbl times $20 = $70 milly.

Add it all up and you are looking at $966 milly, near enough a billy of in ground resources. approx 26 times current market cap. or looking at about 50cents per share.

This doesn't include any success in our Philippines or UK opportunities etc which I'm not banking on now anyway.

Please correct me if I've got any maths wrong but 50 cents per share doesn't seem outside the realm of possibility barring any pre-emptive takeover, or dud wells. This is the disclaimer the list comes with: "NB: The estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both a risk of discovery and a risk of development. Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially recoverable hydrocarbons."

Now I've made plenty of assumptions to do some simple maths. Basically I'm excited, this could outrageously good, this could under deliver. I'm leaning on the positive side.

All IMHO, DYOR.
LFG TEG

Cheers.

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Please excuse my ignorance when it comes to oil and gas, Ringyding46. Is the “2” you use for the gas an accepted standard for NPV? What’s the discount?

Thanks- I attended a lunch a month or so ago and met the TEG guys. Decided to buy on the vibe….it is certainly looking highly prospective!

TEG Price at posting: 2.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 0.7¢		Change 0.000(0.00%)		Mkt cap ! $14.56M

Open	High	Low	Value	Volume
0.7¢	0.7¢	0.7¢	$683	97.64K

Buyers (Bids)

No.	Vol.	Price($)
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Price($)	Vol.	No.
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No.	Vol.	Price($)
11	6316280	0.006
13	7371000	0.005
18	19243614	0.004
37	37501338	0.003
13	24453500	0.002

Price($)	Vol.	No.
0.007	4399305	5
0.008	5841896	14
0.009	4173305	11
0.010	2081305	5
0.011	2466667	2

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Ann: Triangle signs rig for Perth Basin well, page-49

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

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BCI reaches close of funding facility for salt-first part of Mardie project

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Buxton projects new graphite province discovery at WA Narryer play

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

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Ann: Triangle signs rig for Perth Basin well, page-49

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Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

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Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

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White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

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