Yes it is a great outcome for Planet gas. All free carried for 20% conventional oil and 10% unconventional oil and gas.
We are talking about multi-TCF gas reserves here. There could be from min. 5 TCF up to 15TCF gas in PEL638 (formerly deeps of PEL514) That's a huge amount for a free carried 10% share.
The value of 1 TCF gas in the the pipeline is around $8 to $10 billion dollars today (expected to go up to $13 per mcf, which means $13b for 1 TCF).
You figure out the share of Planet gas! it would be 1 TCF for 10 TCF total reserve (10% of 10 TCF).That is around min $8 billion.
However Planet Gas wouldn't be able to participate the development costs after the exploration is finished. Someone should take over Planet Gas for that 10% free carried unconventional share in deed.
The free carried 20% conventional oil in the shallows would be a big bonus for the predator btw.
Someone would definitely pay at least $30m for Planet Gas. (At least 6c a share)
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