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2.1¢ emperor energy limited

Ann: OBL Attains Variation of Permit VIC/P47 Year 5 Work Program, page-14

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raiderup

17,248 Posts.

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19/12/14

08:47

Post #: 14485083
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Originally posted by newregime ↑

Santos yesterday sold 50% its onshore Orbost gas plant and 50% of Sole Gas Field Vic/RL3 (net 100 PJ net 2C high toxic H2S dry gas) to Cooper Energy for circa $27.5 million (plus COE agreement to spend first $50m of project circa $200m).

So what value is OBL’s 101 PJ net 2C potentially wet NGL’s (clean) gas.

15 cents to 20 cents per GJ seems right for tolled gas – cost circa modest $100m to drill and tie-back.

This transaction gives us a guide what is the market price to do the same deal with our Shelf Oil Pty Ltd 50%.

Pay OBL 27.5 Million and then they the farminee pay the first 50 million. What would that do for OBL with a market cap of $4.6 million? I do know OBL have men on the ground looking for a farminee and providing data and talking under confidentiality agreements.

I can not see us getting a xmas present yet. But, this asset maybe worth more to OBL than the Derby block in the short term.

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Apache has offloaded its Horn and Laird Canadian shale assets to WPL,Apache were looking at US$374 million for them.
WPL net gas would be 24 Tft of mostly dry gas.
Should OBL be successful in its court case,OBL would have 32Tft of wet Laurel gas plus the 391 MMb of Backreef oil,so whats OBL really worth ?

Raider

OBL Price at posting: 0.6¢ Sentiment: None Disclosure: Held
7 Upvote

0 Great analysis

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