Hi JakeIMO, Reggie has been conservative & optimistic while...

Hi Jake

IMO, Reggie has been conservative & optimistic while quoting that fig. of $330m-$1b.

AOE has 3P reserves of 1115 PJ, so valuation @ 0.30c - $1/GJ, gives us a ballpark figure between $334.5m - $1.115b & thats what Reg is hinting at to the market.

No offers have been mentioned yet, so they could for 40c/GJ ($446m) or 70c/GJ ($780m), who knows.

I've listed a breakdown of possible offers based on varying transactions scenarios below,

At 30c/GJ, they'd get $334.5m
40c - $446m
50c - $557.5m
60c - $669m
70c - $780.5m
$1/GJ - $1115m or $1.115b and so on.

Tipton West is a developed project & it supplies 25 MMCFD gas to the the 405MW Braemar Power Station owned by BBP.
IMO, any potential buyer can anticipate to rake in the cash from the gas sales from TW to Braemer after meeting potential hurdles.

As gas contracts from TW have been signed up for 15 years, it makes it tantalising for Reggie to tease out a figure out from any potential buyer, IMO.

Wonder if folks at Mac bank are watching this, as they've been involved in heavily in the gas markets in the USA off late.

As per BPT's half yearly earnings, they've had,
- EBITDAW of $272m (after write-downs i.e.)
- NPAT of $127.5m (+117%)
- Current debt $196.65m &
- Cash on hand $139.2m

Any sale proceeds, IMO, could easily pay-off their current debt & b utilised in future Dev & Expln activities.

Cheers