you have illustrated how much "untapped" value is sitting in...

you have illustrated how much "untapped" value is sitting in this entity in a very transparent and easy to follow spreadsheet.

predators can see this hidden value, and they can see even more, with their "knowledge" of the likely form of the gas policy changes.

We all hunt for bargains and pounce on them before others do, and before the owner realises the hidden value that is evident to you. You will go to all lengths to throw smokescreens and theatrics to drive the price down, so as to "dupe" the owner as best you can - and beat off the competition (or make a side deal with them).

Add to this, a Petroleum reserve classification system (which was put together by an organisation heavily patronised/influenced by US energy majors)...that allows anyone using the system to compute valuations to heavily "punish" anything which is not drilled and producing...and you have a great set up for picking up bargains and reserving all the hidden value for yourself.

This is the time to be wary of low ball offers and BS.

I wonder if there will be a significant holder notice issued soon.