agl's long dated gas asset in the galilee

It is worth noting that AGL's Galilee JV Project was actually noted on page 28 of the below power-point (released on the 24th of May 2012).

The Galilee JV is noted as part of AGL's long dated growth pipeline. AGL goes to allot of trouble on its website and with landholder engagement up in the Galilee Basin, so it seems to me they care.

AGL also refers to the Galilee as a future gas production asset and interestingly not as an exploration asset, but then again it was a equity raising document.

With an expected $31 million cash in the bank as at 30 June 2012 the 50% interest an ATP529 is hypothetically being valued at negative $10M.

I reckon its worth a positive value, albeit the pilot wells have been on pump for a while.


http://stocknessmonster.com/news-item?S=AGK&E=ASX&N=679893