Not sure about those sorts of multiples .... I work on something like 15-16 as CSG extracts something like 5% of the calorific value in a gassy coal seam as interstitial gas wheras UCG converts coal to syngas insitu undeground and extracts something like 75-80% of the calorific value in the seam .... so 75/5 is 15 and 80/5 is 16 hence the 15-16 x multiple I use.
But the value of CSG plays like ESG is the perception/acceptance as a commercial source of now "conventional gas" and its extraction is not dissimilar to that of conventional gas ie, it is well understood.
Cheers Dex
ESG Price at posting:
94.0¢ Sentiment: LT Buy Disclosure: Held