Hirise,i think it is fair to say that ESG are worth alot more...

Hirise,

i think it is fair to say that ESG are worth alot more than the current shareprise. I agree that $1.60-$2 is a little far fetched at this point, however, $1 seems to be about right based upon the latest transaction. Essentially, as reserves are shored, it is much simpler to assign a base vaue on a company.

In addition, I did read some interesting research today regarding the agl purchase in NSW. While they spent $370m on 175 2P (potentionally 400 - 500 2P), they have done so knowing a further $400m will need to be spent on infrastructure for this asset. makes you wonder what the real price paid per PJ.