2p reserves, page-3

Zacc

PJ stands for Petajoule, a measurement of gas. Also important to be aware of GJ which is gigajoule of gas. Gas is generally valued by the GJ for example BG paid 2.19 per GJ for QGCs 2P reserves. 1PJ = 1million GJ so BG was paying 2.19million per PJ for QGCs reserves (or 0.70cents per GJ or 3P reserves). When you use those figures to value the gas of PES you can see why this company is undervalued.

sloeb