Here's four "miracles" before Christmas:-
1. Sell spot gas at $8/Gj+ (per STX announcement today)
2. Sell condensate (announcement due per Colby Proactive interview - condensate is NOT currently in the MST val)
3. Bring gas to surface at Lucky Fox/Snow Leopard - prove commercial viability
4. Add to Gurvantes 2C + 2U numbers through 2023 exploration program.
MST val is currently at
$0.37 with (a) gas at $7/Gj, (b) low TMK lookthrough val on Gurvantes, and (c) no condensate revenue.
If MST valued Gurvantes on current 2C alone rather than TMK lookthrough it would already be over $0.60/share
no miracles needed IMO.
Prime catalysts:-
(A) gas into the pipeline/$$$ into the bank account at Walyering - 4 weeks?
(B) gas to surface at Lucky Fox - 10 weeks?
MST valuations can be found here -
https://www.talonenergy.com.au/investors/research/
