different this time karlos??

Karlos, this is a small segment of an article in a resources news article provided by Global Media on 20 October 2012 about potential bidders for the Leviathan Gas Field licence. And, further to my previous post re Woodside's bid, the $2.5 billion bid is for only a 30% share.
Why I consider that you might be interested in this Karlos and hopefully to renew that burning interest that you used to have and which has very understandably waned in recent years, are these words.

"The current value of the Leviathan reservoir, which is still considered the largest deepwater gas discovery in the world in the past decade,(17-20TCF)is estimated at $5 billion, but the value of the contingent gas reserves is estimated at tens of billions of dollars.

Firstly, the estimated value of the Leviathan "reservoir" with that 17-20TCF is $5 billion. That is just the "discovery", GIIP, valuation, where they start from.

It then goes on to say "BUT, the value of the Contingent gas reserves" is estimated at "tens of billions of dollars."

Karlos, we have now completed a 4,267 metre well, where official reports indicate that they HAVE 1.3 KMs of gas saturated shale and sandstone and "possibly" (they have had strong shows) of conventional gas in the upper section which "would be a bonus".

Both of the M.D.s, Reg Nelson and Ray James have pucblicly stated that "this could be a game changing RESOURCE" and "this is a world class RESOURCE".

They are in the process of doing the tests on the core samples, they will in the not too distant future frac the well with full expectation of booking Contingent Resources then "quickly" progressing to "Reserves" if what they expect happens, i.e. high pressure release at commercial levels. (Beach is already getting "commercial" rates from Encounter and Holdfast and Santos are already SELLING their shale gas from Moomba 191).

Neither M.D. seems to think that they are insurmountable obstacles and have asked us to be patient while all of these essential tests have been completed.

855 alone could be 15 times (GIIP) bigger than Leviathan. "Recoverable Reserves" could be as much as 4 times bigger than Leviathan's GIIP!!!
How will those numbers stack up when (a) an official booking of Contingent Resource is made and (b) when that is upgraded to "Reserve" status?

Karlos, this is NOTHING like we have had and been able to look forward to in the last 5 years.
Sure, the SP could drift, but, so be it, that's the market, but, just look what is at the end of this project that we can look forward to. The "numbers" are remarkable and we, so far, have 40% of it, plus, we have sold 2.2TCF of it.

Our "end game" is still to remain in the game!!
That's what I am looking forward to seeing how R.J. manages to do that against very large odds. Either way, we will be talking big numbers IF we happen to get an offer that we can't refuse. Relax, you have waited this long. We will soon know and, again, don't be blind sided by an out of left field ann before those results are known.