Listerine, I cant be 100% sure of the final gross 2P+2C on...

Listerine,

I cant be 100% sure of the final gross 2P+2C on Waitsia when AWE was taken out, but it was ~750-800BCF by memory. And the asset value there was $1.1-1.2b (gross)....... And it sold way too cheap.

Thats about $1.5mil per BCF. (Not sure how the break-up of 2p v's 2c would be considered in that).

So call it $1.8mil per BCF in the current market (and that 20% increase may be way too low also), and taking 450 bcf as a mid point of your suggested resource number = $810m

And the big win for the company IF the BW comes in is the other opportunities in the other PB ground that STX has. I believe there may be many more Wagina / BW plays in our tenements so the end value of the running-room is incredible.

And then there is the KHC at ~1.3TCF (Gross) ! and there is more of those too !

...........Crossing everything for a good result in the BW to really kick this thing into the stratosphere !


IMO