Was looking for something else and stumbled upon this post from rexsh:
https://hotcopper.com.au/threads/an...4602667/page-25?post_id=37151591#.XT5JX-gzaks
"AWE went cheap at $600m of which 85% was attributable to the 50% ownership of Waitsia (~$510m).
I would think a 2P and 2C reserve will be certified on success at WE - it will be immediately commercial if its anything like waitsia. Valuations on the SCBGP cant be transferred across to the WE project.
If WE turns out to be analogous to Waitsia I would look to $500-750m as a min valuation on that asset.
Then you have the UIL potential."
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