MetagascoThey have 1,538 Petajoules in 3P reserves. Per...

Metagasco

They have 1,538 Petajoules in 3P reserves. Per http://www.metgasco.com.au/


So based on QGC take over at 80 cents per GJ

Then the value of MEL 3p Reserves are;

0.80 * (1538Pj *1 000 000) = $1 023 040 000

Shares on issue @ 31/12/08 per Qtrly report is 132,281,134

There are approx 20,000,000 options that would be exercised

20,000,000 + 132,281,134 = 152,281,134

Value per share 1 023 040 000 / 152,281,134 = $6.71

Even if they hold a 50% interest in those reserves its still valuable