esg value after go lng with 2p:6000bcp

Try to estimate ESG Value after go LNG with 2P:6000BCP.

Using WOODSIDE(WPL) as a benchmark.
WPL Market Capital: $33,549 million
WPL 2P reserve: 1,688 MMboe
WPL $/boe: $24.5/boe

ESG 2P: 6000BCP
Conversion rate from BCP to MMboe: 5.7 (caculate from Reserves (as at 31 December 2007) on page 12 of WPL 2008 annual report )

ESG 2P: 6000BCP/5.70 = 1,050 MMboe
Estimated ESG Market Capital: 1,050 MMboe * $24.5/boe = $25,725 million * 0.65 = $16,700 million

ESG Share Price = $16,700 million / 878 million issue share = $19.04