IamThanks for that, was expecting any reply would be from...

Iam
Thanks for that, was expecting any reply would be from you.

Typical complicated Albers stuff.....

The asx release you provided dated 09-04-2001 nails down a clear transaction price.

"Further to the announcement of 9 April 2001, the Company confirms that, subject to the necessary ministerial approvals required pursuant to the Petroleum (Submerged Lands) Act, that it has completed the acquisition of an additional 25% interest in the Evans Shoal permits (NT/P47 and P48) from Shell Development (Australia)
Proprietary Limited for a total consideration of US$25 million."

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=4516&announcementId=675486

$25mil for 25%, grossed up = $100mil for 100%, in 2001

AFAIK, since that time, only one well has been drilled, Evans Shoal Sth by operator STO, in 2006
It was a fairly ambiguous result

http://asx.com.au/asxpdf/20060724/pdf/3xnl2p4488hkt.pdf

Current ENI transaction is $250mil for 40% which grossed up is $625mil for 100%, or 6x the value implied by the 2001 transaction.

That's a fairly encouraging premium for a high CO2 hydrocarbon discovery.