36c. Patersons say over $3, page-93

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02/07/18

11:41

Post #: 34079619
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Originally posted by Deus_EX_102 ↑

1. The "unlikely" scenario of $3 per share is based on $1.17/GJ 2P when LNG was $20/GJ and Brent was $145/bbl. However, AWE was taken over recently with minimum bids at $1.45/GJ recently in the perth basin in our more "subdued" environment.

2. Previous testing didn't work. But approximately $90million was spent on that testing by previous operator in order to gather knowledge on the way forward, hence the multilateral pilot now running and the discovery of high quality coals.

3. Jemena have signed binding agreements to build a pipeline from Mt isa through the Galilee basing to the east coast. The Galilee is in the middle of nowhere. The only way Jemena wouldve signed it with Galilee is if they had a high degree of confidence they would find significant gas.

4. The Board are resetting their placement limits. A capital raising would be at a very good price. Expect 10's of $millions, not single digit millions

5. Never heard of Minervini.

Cheers Deus

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Thanks Deus bit more for me to look at on the LNG pricing front and valuations, cheers for the head start.

On the pipeline I thought it was an MOU rather than a binding agreement as such.

If they can get the testing right and prove up the resources I'm sure the pipeline will come one way or another.

GLL Price at posting: 46.0¢ Sentiment: None Disclosure: Not Held
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36c. Patersons say over $3, page-93

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