mawdie
We have seen those water flow rates for the tri-lateral previously. Its nice though that they are highlighting the potential of the Namoi Coals!! In the Open Briefing on 11 August casey said that the tri-lateral presented considerable upside as the Namoi Coals are not included in nay reserves or resources to date .. and they "are widespread across the region". Note "across the region" .. not just in PEL 238. This has upside implications for all of ESG's leases and those in JV with OIP .. and Santos's leases for that matter.
Its hard to estimate how significant this is but its got to add 20% + upside to reserves at the very leasrt .. and given that a pilot is being done then it will add to 2P and i would think Contingent as well.
As to whether ESG is undervalued ... I will let the market decide that!
H
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