Great news, this is very material to WGO intrinsic value.
211PJ booked reserves for WGO’s share of the in ground gas. Typical transactions are $1 to $1.1 per PJ Normalised WA Gas environment of $3.50. Today wa gas is nearing $7. This means any transaction should be at a higher multiple of reserves, say $1.50-1.80.
conservatively Wgo MC should be beyond $240m ($211m + cash). SP should be 20c at minimum.
Ann: West Erregulla 2P Reserves upgraded by 41%, page-2
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