good times, page-6

I don't really know, it's so hard to value because the assets are quite 'binary' in nature - if they are a success they have massive amounts of value relative to the current SP, but if they're a failure the company has very little value.

If Mahalo works that should give them enough money to chase Galilee. If Galilee works there could be hundreds of PJ of reserves there - possibly thousands. At $7 a GJ you can do the maths. Billions of dollars worth of gas.

Mahalo looked good when they drilled it but now it's high risk. And Galilee was always high risk.

But the rewards are big relative to the current SP.