I see where you are going with your numbers.I still look at it...

I see where you are going with your numbers.

I still look at it as though they are giving away half the company and diluting our interests.

I did some research on the price of natural gas and came up with a price of around $7USD per 1,000 cubic feet.

Total in ground value of 38BCF would then be $266mUSD or $341mAUD.

GRL would only have a working interest of 22.5% (75% of 30%) so that comes to $77m.

With 70m shares on issue at 30 cents, GRL has a market cap of $21m.

The next question then is - what is the potential profit that can be made on $77m worth of natural gas?

The other thing that has me worried is the lack of volume, it would be difficult to exit a sizeable position at this level of volume........