A few of the more interesting slides/comments ...SHORT/MEDIUM...

A few of the more interesting slides/comments ...

SHORT/MEDIUM TERM DRIVERS
. Booking of Gazonor reserves (Jul 2008)
. Lorraine production test (current)
. Re-assessment of resources for Gazonor and Lorraine (Sep - Oct 2008)
. Expanded 10 well exploration program (from late 2008)
. Expanded production test/pilot program at Lorraine (during 2009)
. Booking of reserves at Lorraine
. Expansion of Gazonor production.
. Continuation of acquisition program

SOME ISOLATED SNIPPETS
. Current Australian gas sales price typ $3.00/GJ
. Current European gas sales price typ $14.00/GJ
. Anticipated European gas sales price for balance of 2008 and for 2009 $22.60/GJ
. Against a current mkt cap of about $150mill, on 2P reserves for Gazonaor alone EPG could be valued at $224mill based on an average EV of $1.60/GJ for 7 Australian peers and could be valued at $290mill on 2P reserves for Gazonor alone based on recent 2P transactions for some Australian peers of $2.07/GJ
. Recent transactions for valuing Australian peers are dependent on a combined industry capex of something like $20bill for 4 to 5 LNG plants, whereas EPG doesn't have to invest heavily to get its gas to market.
. Gazonor came with two production leases and application for a third has already been submitted.
. Two pending permit applications will approximately triple the size of Gazonor holdings to something something in excess of 2000km2.
. Gazonor CMM currently draws gas from just 3 of 400 plugged mine shafts and utilise only a fraction of available methane. Up to 10% of these shafts are instrumented and monitored and are being used to characterise Gazonor resevoir behaviour and to target additional production sites for both CMM and CBM.

GAZONOR (WHAT WE CAN DO)
. Significant scope to expand production through current facilities and development of new areas.
. Development of a large resource base.
. Reduction in operating costs.
. Enhance value of produced energy thru electricity generation and waste heat.
. Enhance (gas quality prior to) injection into GRT Gaz network.
. Electricity generation pricing advantages.
. Other development initiatives.
. Potential very large (as in bigger than Lorraine) CBM resource.
. Health, safety and environment audit to be complete in Sep 2008.
. (Development) feasibility study to be complete by end 2008.

GAZONOR CMM and CBM POTENTIAL (and more) in another post.

Cheers
Dex