3P is only given a 10% chance of converting to 1P so that is how you value it, get your 1P price and divide by 10
of course there is more to than that. These gas fields are tricky and plenty of Oz plays have gone nowhere trying to get into the US gas game. Its gotta be good 3P not bad 3P
AMU has had a strategy that worked, starting with reworking old gas fields then using 3D seismic surveys to pick targets and drill. It worked a treat, but what is very clear is that at the end of the day its your US based partners who are the secret ingredient to success.Without the right confederates behind you kiss your ass goodbye
I haven't done enough research on this stock, which has a compelling long term story, to buy. I wouldn't wnat to invest in a company that the confederates saw coming and had a glint in their eyes when they saw the Australina cheque books!
MAE Price at posting:
0.0¢ Sentiment: Hold Disclosure: Not Held
