Not sure about 7 cents just yet Cashngrab but i do think from my...

Not sure about 7 cents just yet Cashngrab but i do think from my very rough calculations ROG is worth about 3 cents based on their current gas reserves. Yes, more dilution is on the cards as they are low on cash. This is fine as long as they are proving up more reserves which in turn increases the company's value.
Obviously the uncertainty of NSW gov stance re CSG is factored into the current share price. My research into this keeps coming back to the fact that NSW gov just cannot afford to halt CSG altogether. They need the money it generates and they need CSG in terms of future electricity supply. At most the Gov will tighten regulations.
ROG's gas to date has little excess water problems and may not even require fraccing, which are two very positive factors as this is what has caused a lot of criticism from the anti CSG activists.
I am optimistic that in a couple of months time the share price will be more aligned with the company worth.