""gas price AUD$9.27mcf (NYMEX US$7.60mcf)
Strikes interest 50bcf.
gas shows in the main target = whoosh""
you'd expect Strike could at least Net AUD$5.00mcf out the AUD$9.27mcf
50bcf/gas X AUD$5.00 =AUD$250mm
fully diluted approx 300mm shares divvy AUD$250mm =AUD .83cps
now here's the good bit..
we haven't included any oil condensate.. PLUS we have a good chance that pre-drill estimates 200bcf could increase..
they've has significant gas shows just above main target, which IMO wasn't expected so wouldn't be included in PDE 200bcf...
so IMO Mc Gall #1 if successful should be worth over $1.00
as usual DYOR..
regards
did you punch the craap out of the calculator
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