on ESG website we have " PEL 238 (ESG 65% & Santos 35%), the main focus of ESG?s current development programme, has been independently estimated to contain up to 17 Tcf of Coal Seam Gas within the two thickest coal seams, a substantial percentage of which is expected to be producible.
17 Tcf
then from the Eureka Report we have "What Beach reported on August 10 was a technical and commercial breakthrough, ?booking? (or recording as a contingent asset) two trillion cubic feet (tcf) of previously unidentified gas from just two wells in its Cooper Basin area in the north of South Australia (to which Eureka Report readers were alerted earlier this year).
To put 2 tcf of gas into perspective, it is the equivalent of 330 million barrels of oil, and in dollar terms it has an in-ground value of about $33 billion ? with potentially for more upside because the Cooper Basin shale gas hunt has only just begun.
2 Tcf
now 2 goes into 17 = 8.5
8.5 x 33 billion dollars is 280.5 billion dollars in ESG worth and it gets sold for WHAT???
are my maths correct?
Oh and thats without the potential upgrade in the new report released when???
Dont ring me Santos or ESG as I am OS
ESG Price at posting:
77.5¢ Sentiment: Hold Disclosure: Held