I think oil being more profitable than gas is debatable and prices being low? Less than 10 years ago we were getting $4 a GJ and today even in the Australian market we are getting contracts closer to $10 or $11 and export gas is in the $20s a gigajoule.
gas wells also tend to produce longer than the oil.
besides if it was more profitable I'm sure our Management would not of changed our business model and Woodside wouldn't be so interested in gobbling up Santos.
i think $2 is achievable and hope to push past towards $3.
most Australian oil n gas companies only have a PE ratio of around 8 while overseas they are more like 14, so on the world market we are cheap.
Beach Energy Limited, page-457
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