A reminder...
My back of the envelope calculation says 25PJ/year is $75M per year (at $3/GJ - speculation on my part, giving the pipeline operator/s the same again to still make the gas attractive to IPL at $6/GJ). Now we just need:
1. a pipeline
2. more exploration to find the gas, possibly financed by IPL or otherwise underwritten by IPL
I see a re-rating when the market is sure the pipeline is going ahead.
CTP Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
