brr on monday, page-19

Hi Bukka, I wasn't planning on posting this. I only did some very basic calculations of in-ground value solely for my own interest, and then divided that value on a per annum basis assuming an extraction period over 10 yrs. So, no discounts included here for above-ground costs such as capex, working interests, taxes, etc. Current Gas price: US$5-7/Mcf. Current gas reserves estimates for the Ranau block range from 0.3 to 4.5 tcf. So, I simply calculated mean price ($6/mcf) x reserves / 10 years = US$180M to $2.7B per annum.

Possibly not the correct way to calculate it but as I said these in-ground valuations were just for my own interest. Happy to be enlightened...

Nb, no consideration here either of their potential oil reserves.