highlights from last presentation , page-23

Q: What is it worth?

A: 1 TCF gas is $8 billion dollars !

The price of 1 Mcf gas (thousand cubic feet) sells for $8 to $10 in WA market and similar price to Asian market as exports from AU. That's the reason the major O&G companies have invested and are investing more than $150b dollars on NWS of WA.

That's why BG Group paid $1b to Pure Energy (PES) in 2009 (paid $8.5 per share).

PES was exploring unconvetional (coal seam gas) gas as well like NSE. That was a small company in QLD that time. Drilling and proving the CSG reserves. But no one understood its real value that time (other a poster here; SeamFiend. See his post here when the price was only $1.65 on 5/9/2008 : Source: Click here)

That's why I am saying that we don't have to hit a conventional reservoir for having a sp above $3, we only need to prove the reserves.

Btw, the above calculations are only for the gas, no condensate is included. We need to make another calculation for that.

It is my understanding that, COP is quite confident about the gas maturity in Goldwyer area, therefore they are now trying to find the sweet spots for oil and other liquids.