farahnazi,
The JV is currently shooting 3D over the entire Poseidon structure to define where Kronos will be drilled to test the southern extent of the structure.
In ground value of gas discoveries in the Browse are likely to achieve $1B/Tcf, and the structures are tested and confirmed as proven reserves reach $2B/Tcf, then there is condensate.
At this stage the market is valuing KAR with a 50% chance of discovering 5Tcf. If P-2 confirms P-1, and Kronos is infact a structural high as interpreted we will be looking at 10Tcf+, at which point KAR's 4Tcf will be worth $8B, or $45 per share.
This assumes Lion is a dud, Kronos is a success as interpreted and hopefully P-2.
These are my back of envelope calcs. Many other considerations, but given the number of wells about to be sunk into the Poseidon structure and the concurrent 3D, in the next 6-9months with some luck we should 10Tcf proven.
DYOR.
progress report no 3 , page-4
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Last
$1.84 |
Change
0.100(5.75%) |
Mkt cap ! $1.474B | |||
| Open | High | Low | Value | Volume |
| $1.79 | $1.85 | $1.78 | $10.19M | 5.568M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 40861 | $1.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.85 | 25012 | 5 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| KAR (ASX) Chart |