Negative EV .OIL producer HUGE upside>>

TEG market cap = 18mill

TEG holds 47.88mill GAS shares @ 33c = $15.8mill at present price

TEG has at present around 7mill in cash + Oil in storage est end of MAR22 next lifting APL = 115,000bbls (less $40bbl costs) at present USD brent oil = 7.4mill USD -(TEG profit share 78%)=5.77mill USD
=$7.95mill ....

So one would think even with admin costs TEG should hold around 13mill in cash late APL22

and if GAS goes where many think it should this will be even better for TEG as they are priced at Negative EV ...

If their GAS shares go to say 50-60mill in value then they can use those funds to push ahead Cliff-head stage 2 = 3000 bopd production profile

Also current Energy Oil environment at present has got to be a positive for >>(Really TEG mgmt couldn't have asked for a better time to put pressure on local GOVT)

Given the impact on both the CHJV and other producers currently using the storage facilities at BP Kwinana, the continued enormous potential of the Perth Basin and the value and strategic necessity this provides to both the State and Federal governments, the CHJV has continued to hold meetings with Department representatives for the Federal Minister for Energy and Emissions Reduction and the State Minister for Mines and Petroleum; Energy; Industrial Relations

the Western Australian and Federal governments and believes ongoing local refining capability is vital for the nation’s energy security...

So we could see GOVT funding and support for Storage and FEED will begin immediately and is expected to be completed by Q1 CY2022, with first production currently intended for Q1 CY2024...

Also New Mgmt team in TEG ..many new Connection here can only be seen as a positive for TEG ..