Trading Week, page-50

And covid has only served to halt and bottom drawer these developments. 2025-2030 is going to be mega for Mongolian gas industry. There are a few other mobs that Lawrence pointed out the other day that a starting exclamation in Mongolia mobs from America. EX are has first mover advantage and out PSC with the Mongolian government is gold.
I would not be Surprised in the least if by Christmas time we are not valued based on the nomgon discovery suggesting a minimum 1000PJ reserves and that would send us to 6x current

current Mcap $117m @ Sp = 0.17
1000PJ (1Tcf) @To $0.5/GJ (after PSC costs) = $500M then SP=(500/117)x0.17 = $0.72
This does not factor in
- 1 TCF is more likely to be upward of 5TCF just in the nomgon
- the rest of the 29900km2
- seismic campaign derisking
- richairn
- if EXR isn’t $1 by Christmas I’ll do a nude run