nsw/qld csg company comparsions, page-22

I can think of worse places than NE NSW to have a 'stranded asset' Seamfiend. The Cooper Basin, etc were undoubtedly stranded at some point in time!

And if the 'asset' approaches anywhere near the size of some of the conventional GIP estimates - which are VERY SIGNIFICANT - then I don't imagine Metgasco's asset will remain stranded for too long either.

Looking forward to seeing what the test results, and eventually, reserves testing, does delineate for the Kingfisher Gas Field. And interested to see how they develop/expand the CSG reserves already under the belt... all reserves to date situated only in PEL16. I would be at a loss for words if no-one thought that this was worth farming-in to, so I'm very expectant of seeing Metgasco sign up a "like-minded partner" going forward and hopefully to accelerate their drilling/development programs.

I've actually thought recently though, and may have previously mentioned, that someone who does their due diligence on the PEL16 selldown, might surely rather prefer to take a cheeky swipe at MEL. I don't imagine MEL would want to farm-out up to 50% of PEL16 all that cheaply. And, given the stagnant/depressed share price that currently puts MEL at an EV of under $100m, that's not a lot of dollars - even offering a reasonable premium - to take out the whole golden goose. In doing so - adding over 2000 3P CSG reserves to your own portfolio, with 2 relatively untapped PEL's to boot, and with a conventional gas field and 21 other conventional leads and prospects thrown in like a set of stake knives.

If you were a potential suitor - I imagine that the aforementioned scenario must at least run through your head.