Numerous development opportunities are ready for further attention in existing fields. Some have quantifiable value and others need further work before value can be given.
WM25, WM26 120PJ 113, 738, 054, 437.6 cf 119993178.898 GJs @ AU$5.14 GJ is $616,764,939.332
P1 45 recompletions 130 Bcf
3,681,190, 056.96 cf 3883861.19744 GJs @ $ 19,963,046.5548
P3 19 " 15 Bcf
424, 752, 698.88 cf 448137.830474 GJs @ $ 2,303,428.4486
P4 WM14, WM15 deepen P1 or P3 gas caps to P4
WM16.17.18 new wells to P4
total recompletes and 3 deepened
is 18 BCF 509, 703, 238.65 cf
537765.396569 GJs @ $ 2,764,114.1383
another 7-8 successful wells increases
18 Bcf to 40 Bcf 1.132,673,863.68 cf
1,132,673,863.68 cf 1,195,034.2146 GJs @ $ 6,142, 475.8630
Palm Valley large volume tight gas
EUR 241.8 Bcf 560, 213,505.946 cf
7, 223, 981.82724 GJs @ $ 37, 131, 266.592
total with 18 Bcf $ 678, 926, 794 .511
total with 40 Bcf $ 682, 305,156.79
711, 029, 976 shares on issue value of unlocked gas is 95.96 cps. Its clear why Macquarie were delighted to pay 20 cps. Value is very well hidden - share market performance and absence of corporate raiders are a real mystery.
Other prospects in CTP portfolio including QLD Ethabuka gas discovery and Surprise oil field may add more substantial value with further work. Both prospects require seismic and Surprise work-over.
National gas market continues dynamic with numerous ambitious players / development proposals active. Manufacturing businesses continue to push for market reform, restructure, citing closing businesses jobs being lost overseas.
With unspent capital raise money and substantial recurring disposable income funding choices for company development, market dynamics continuing highly volatile, it may be strategic error devoting all income for a complete year repaying debt and not developing N.T. portfolio prospects.
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