Aus Gas Supply Tightens : Beach/BPT Production Constraints, page-28

Guys its valuation sits around 40-55c depending to the degree you want to risk the value of the projects and gas price you want to assume. We need a catalyst to re- rate higher but with Cleanco GSA likely to be finalised by the end of June , and more MoU for GSA flowing within next 2-3 months we will have a number of catalysts , but the one that will result in the clearest valuation gap being plugged is a TO attempt followed by competitive bidding . As I have said before I was finalising my SMSF taxes recently and in June 30 22 Wgo closed at 11c . A few months later it traded as high as 41.5 c with exactly the same reserves and assets as June 30. Once a bidding process starts all interested parties show their hand