reserve calculation, page-10

Not true Jaks. The sale of the Ironbark Gas project to Australia Pacific was a real sale at $1.79 GJ. Strachan has also stated a range based on sales up to $1.45GJ.

In my experience share prices rarely reflect market value until such time as a takeover or sale occurs. Sp's tend to linger well behind transactional values.

Regardless the LCK scenario is a window on what might be for RLE assuming commerciality. Right now LCK is far from the suggested transaction value but it will be interesting to watch over time as the market assesses and absorbs the information.