"They have a break even of c. $3.20/mmbtu or GJ but more importantly, **this is inclusive** of land acquisition costs **and** 25%-30% royalties."
This clarifies a lot of uncertainty regarding the economics of the whole project. Thank you for highlighting this aspect as the BPT slides (18/19) weren't explicitly clear on this.
We're looking at an operationally sound, and also very likely, an economically sound project here. Tops in my books.