thanks for thatI checked thru some of your past posts, the info...

thanks for that
I checked thru some of your past posts, the info is there.
I'll repeat it here for those who are interested.......
(These figures do not seem to have latest revaluations from STO deal factored in.)

1PJ = 277800 MWh gas = 169825 boe = 31,107 m3 coal where boe is barrels of oil equivalent.

EPG just realised an operating profit on gas sales of A$20.33 per MWh ... so therefore each PJ reserves is A$5.6 mill operating profit based on gas sales for the last Quarter.

Current 1P reserves at Gazonor are 32.6PJ or A$182.56 mill operating profit or about A$0.91 per share for the current issue of about 200 mill shares or about A$0.73 per share allowing for conversion of the convertible notes on issue.

EPG have said Gazonor will surprise the market. Desorbable coal mine methane for Gazonor is estimated at 12 times current 1P reserves and a huge untapped coal bed methane reserve within and adjoining current gazonor production areas is also being considered. A 1P reserves upgrade to say 100PJ would be worth A$2.79 to A$2.24 per share for 200 to 250 mill shares on issue.

Then there is the 7.5% area of the Lorraine permit with GiP of just over 1000PJ (soon to be upgraded) which management expect about 50% to be recoverable. Ignoring any GiP upgrade, a potential 500PJ reserves for the intitial small pertion of Lorraine is therefore worth and operating profit (based on current gas sales and operating costs and excluding development capex) A$2800 mill or A$14.00 to A$11.20 per share for 200 to 250 mill shares on issue on top of anything Gazonor contibutes to share value.

Then there is the other 92.5% of the Lorraine permit, 100% of the much larger Lons le Saunier permit plus Gardanne and St Etienne plus Tuscany plus Benelux.

Based on the above, a multi dollar share value is realistic imo.

Its like the market is standing blinded by powerful EPG headlights at the moment lol.

Cheers
Dex

PS ... for oilers, Gazonor at just 100PJ of gas and Lorriane at just 500 PJ of gas is just over 100 mill barrels of oil equivalent.