The term "most likely resource" from the announcement would imply that the figures we are looking at 1p reserves which means the molpo 20% share of the 1.2 trillion cubic feet of gas is 150 billion cubic feet of gas.!!! i think the figure of $5 mmcf is a rough local price which add another 50% for chinese prices means the china reseve alone is worth $1 billion aussie dollars.. ...if i am wrong in these figures please let me know but i think im right.now this doesnt take ino account the massive potential in South Africa and their australian reserves.......... seems to me that 50c would not be an unrealistic share price in the short term..this announcement goes far beyond our previous thoughts because the announcemet appears to put the reseve at a 1p level. this is a company making announcement make no bones about it.the bhp members certainly new this when they came on board. so we now have a recipe for a large increase in sp. 1 a huge recoverable reseve of gas with a huge demand 2.better gas price than in Australia 3 top management with vast experience 4 a joint partner that is experienced in drilling and recovery of the said gas 5 money in the bank to carry out the next phases of recovery 6.futher huge potential in south africa that could unleash another jackpot in the near time. 7.a current low share price which is under current fair value by a long way leaving lots of room for an upward movement in both the short and long term.. phil.
MPO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
