Bass Strait has produced 5TCF over 40 years,and we are sitting on from 13 TCF to a high estimate of 35 TCF just offshore Sydney/Newcastle.
We don't have the long distance piping/transporting costs associated with the Cooper/Moomba fields.
Could possibly be as big as the Gorgon field one day.
Drilling in October/November with both State and federal Gov, fully supporting this project as the way forwards.
Seeing how KAR QGC and others have gone i think $2.20 valuation will end up being a very,very conservative figure placed on PEP11 for Bounty.
More like $5+ within 2 years is a more realistic price guide for BUY once we have our gas intersected.
Then we have our other projects also.
jake.
topend could be up to 35tcf...
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