production testing confirmed, page-28

Couple of points:

1. FLNG is new and probably not suited to typhoon country! I suspect PVN will want an onshore facility (especially as they don't have one yet!) which can be used for domgas in the future plus other tie-ins. I also suspect it will be a far more commercial outcome for the JV.

2. To prove up 10TCF (i.e. $2 share price) will require a lot of time and several wells - each $50MM++ and NEN paying 25%. It is a long long time before that happens. THEN - you MIGHT have 10TCF of 2P reserves which is worth 50c/mcf. Now though - it will NOT be 10TCF of RESERVES, just 3C I suspect at best.

There is a torrent of water still to go under the bridge and many more typhoon seasons will pass before real value is realised.

Roll on an oil discovery at 120 - then the price will rocket - even if the govt take on oil is a lot higher than it is with gas. I wonder why that is???? Hmmm....