Island Gas Resources ( UK EPIC code IGAS) has just started CBM...

Island Gas Resources ( UK EPIC code IGAS) has just started CBM production in England. Quoted on AIM market

Gas Resource (contingent) is 571bn cubic fee.

Current value (65p per share)= £44million (say A$90 million)

UK brokers Daniel Stewart and Cenkos value shares based on commercialising contingent resources at £1.04 to £1.18p

This would be worth approx A$170 million.

So 8500bn cubic feet contingnet would be worth 14.9 * A$90 million = A$1,341million.

EPG slightly undervalued?

Regards,
ReadingMan