NSE's Goldwyer ground amounts to 45,00km2 or over 11mln gross...

NSE's Goldwyer ground amounts to 45,00km2 or over 11mln gross acres. And we all know that ConocoPhillips secured as partner with US$109.5m farm-in, which means that NSE has 25% of the Goldwyer ground or about 15,000km2.


When looking at the Canning Basin map, my personal guess was that KEY's EP448 is a substantially big ground as well, somewhere about 10,000km2 and KEY entitles to 70% of the tenement. If this is correct, then how are we going to value EP448?

At the moment, NSE market cap is about $200mln vs KEY's $8.8mln. There is a lot of room for improvement in KEY's share price and future potential. The company is looking for a partner into its EP448 project and if it can bring a big fish in. In my mind, I have no doubt that the SP can easily push through 10c level which is still a tiny market cap of $28mln.