US 50c/MMBtu is fairly common unrisked exploration valuation....

US 50c/MMBtu is fairly common unrisked exploration valuation. You are correct that quoting it as GJ is a CSG thing but, as 1MMBtu = 1.05506 GJs and the AuD is probably going above parity with the USD, I've just slapped on the lower 50c/GJ figure.

I have seen the 40% CoS that RPS have for Cornea and will lower my Cornea numbers to fit. Although based on a contingent resource I do find this a little surprising. I put together my valuation pre the SRK valuation - but have held off posting it the last week while I topped up my shareholding).

If you want a more complex and 'up to date' valuation you can google the 'Hotelling Principle' - I'd personally prefer to use a (conservative) pre calculated in ground MMBtu valuation based on a low $3/MMBtu and spend my time researching companies! If you are crazy keen you could subscribe to read this explanatory article:

http://www.questia.com/googleScholar.qst;jsessionid=LWZZVXGns18pn2SWsnTVdSPVYyJt18L47FThtFhvwc2nLC1spR7N!-1519723670!1154483301?docId=96401710

Regarding the RPS valuation discrepancy - both in terms of the GCoS and GIIP and recoverable resource - I've placed a polite request for thoughts from Ya on the KAR thread and would be very interested to hear from any other petroleum engineers/geos on why RPS's Wheatstone analogue based GIIP estimate and its assessment of the risk of the trap/seal quality is so different to MEOs.