I also don't understand where oscarone gets his 11p etc.The...

I also don't understand where oscarone gets his 11p etc.

The October presentation in London included a slide which stated that the project would generate an NPV @10% of US$ 1.1 billion for Leyshon's 60 % share ( i.e. after PetroChina exercise their option for 40% of the project).

I assume that is based on the higher estimate of 3.8 Tcf gas in place.

With 250 million shares in issue and an exchange rate of £1 = US$ 1.60, the NPV is £ 687 million or £2.75 per share.

If the project produces the lower estimate of 1 Tcf gas, the NPV per share would be reduced to around 70p.

Mouthwatering numbers !