Here's a summary from the report on the events to date in The Cooper region.
Certainly shows that AQO is undervalued and due for a re-rate.
PEL 570 alone has a valuation of 27c based on this report.
? Origin Energy: A$252m farm-in to Senex Energy permits (Feb 2014) in Southern Cooper Basin PEL 516, 514 and 115: tight gas sands, shale and deep coal plays -15 well and seismic programme
? Chevron: $A350m farm-in to Beach Energy Ltd’s Unconventional exploration permits in Cooper Basin (Feb 2013)
? Beach Energy: signs 173 Pj gas sales agreement with Origin Energy totalling up to $A1.5 billion over 10 years (April 2013). Moonta-1 shale gas well flowed at 2.6mmscf/d in Jan 2013 follows success on Encounter and Holdfast shale gas wells – flowed at 2mmcfd on test mid 2012.
? Santos: Moomba 191 unconventional well flowed at 2.5 million cf/day in Oct 2012
? Senex Energy: Hornet 1 unconventional well flowed at over 2 million cf/day in southern Cooper Basin permit PEL 115 (April 3 2013) and JV completed with Origin Energy Feb 2014
? Drillsearch Energy: Completes farm in transaction with Santos $120m in July 2013 for Wet gas exploration, farm in with BG Group for $130m in July 2011, successful $118 million takeover bid for Acer Energy (Oct 2012)
? Strike Energy: Completes gas sales agreement with Orica in July 2013 to sell 150PJ under a 20yr agreement.
? Industry commentary: suggest Exxon, Total, BHP Billiton, Hess, Shell, Statoil and BG are closely watching Cooper Basin
AQO Price at posting:
20.0¢ Sentiment: ST Buy Disclosure: Held
