25 cents by christmas, page-17

Good point Towie agree flow rates are required for valuation cals however big difference here between VIL with its 8M cap and small percentage interest the wells being drilled with partners. EXE has exploration fully funded by CNOOC to the tune of $50M which leaves them with a 50% NRI when the 50M is spent. Believe these CSG wells cost around ~$1M a hole as they are shallow so i work out that leaves them with another 40-odd to drill until they need to tip a single cent into exploration. A company that thinks they have a 50% interest in 100TCF+ of gas and 300-400 million BO... trading at this level? it must surely be the gas desorption on CSG/Shale and flow rates on oil that the bigger players are waiting for.....? BHP took out Petrohawk in the US (who are in production) for $US14BN and believe they had (don't quote me on these) 9TCF proven and 35TCF probable of shale gas.....i say bring on next years exploration!!!!