similar companies, page-4

From a recent report by Edison research...

download here; http://www.edisoninvestmentresearch.com/downloadpdf/11764/588

"In addition, Tassie Shoal, while being in the portfolio for a significant time with little in the way of value-adding progress, could potentially benefit from increasing pressure being muted by the Australian government. The Ministry for Industry is weighing up a proposal not to extend licences of companies sitting on isolated gas resources, many of which exist around the Tassie Shoal location, therefore providing suitable gas feedstock.

Should the outlook change to the positive then Tassie Shoal creates a valuable asset in the portfolio that could either be realised through development, or more likely in our opinion a sale. At this stage it is difficult to place even an estimated value on the project, but LNG projects with sanction and financing command around $100/Te of capacity of value on a DCF basis.

While this kind of value is a considerable way off, it should be highlighted that Tassie Shoal does have environmental consents and major project facilitation already granted."

From MEO presentation...

Key Project Details
• Water Depth: ~15m
• Plant Capacity (each): 1.75MTA
• Single Module Construction
• Platform: Concrete Gravity Structure
• Technology: Davy Process Technology
• Offloading: Single Point Mooring
• Gas feed assumption: 10-30% CO2
• Storage: 20 days production within CGS
• Fabrication Location: South East Asia
• CO2 is utilised in the methanol production process

mmm...

Happy to read the views from others on potential realizable value.

Cheers!