$1/GJ is what I’d consider a conservative approach. But with...

$1/GJ is what I’d consider a conservative approach. But with spot prices in WA in the 3’s you could potentially go a bit less than $1.

other factors to consider;
- where the gas is going, ie will STX have to build their own gas processing plant? This reduces your $/GJ in sales
- gas composition. I believe the methane level in the surrounding wells is quite high (90%+). Not sure about inerts (N2 and CO2). They can’t be any higher than around 7% for sales gas. So if they are higher, there is processing required. No real problem if it goes to an existing plant. Mercury and the like can always be an issue too

I’m a holder and a believer that there is value in what’s in the ground. It will just be a matter of time before it gets bought out or processed by Strike.