Its the STO deal with Petronus .. they have sold reserves of CSG for the LNG plant in Gladstone to Petronas. The valuation of the deal was at a new record rate of $4.91/GJ. They paid $2.008 billion for 558PJ 2P reserves and $1.65/GJ for 3P. On that basis my VERY quick and rough estimate is that the ~ 3,000PJ that OSH will commercialised via the LNG plant in PNG is worth a heap more than the current market cap .. as much as 2-3 times (particularly if you throw in the 3P).
H
OSH Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
