WBE

As many know I have been a huge fan of our permit PL 231 for quite while and when it was to be listed I was ecstatic.

I have not posted on GAS thread since the final result because I really wanted to talk to some Geo mates and some research before doing so.

I seriously doubt that the market and many realise just how big the latest drill results have made this permit to be what I believe will be so very seriously sought after.

Finding a major field for comparison against GAS owned by Santos-

Scotia field (owned by Santos) against what we know so far about Reid’s Dome.

- Total coal thicknesses of between 11m to 25m at Scotia (see attached link to technical paper on Scotia). 25m net coal was present in the best well they had. 

- At Reid’s Dome, we have 38m in Nyanda-4 (although 67 meters on another count we made over the weekend - depends on the coal density cut-off used). 38 metres is very conservative. 

- We therefore have 50%+ more net coal than at Scotia. And Scotia is 61 square kilometres in area - PL 231 is 181 square kilometres. But let’s say that not all of our tenement area is prospective - so Icalculate 160 square kilometres of ‘dome’, with coal measures throughout that entire area. So, the prospective CSG area at Reid’s Dome is 2.7 times the size of the Scotia area. 
- So, 2.7 times the area, and 50%+ more net coal than Scotia. 

- Scotia field has no water production (so no de-watering).  Nyanda-4 did not encounter any acquifers in the Reid’s Dome Beds and there are impermeable cap rocks above the sequence, so it appears that Reid’s Dome could be the same.

- Scotia was located >100km to the Roma to Brisbane pipeline.  Reid’s Dome is < 50km to the Queensland Gas Pipeline.

- Gas content:  Initial data on gas content from the core samples (coal seams) from Nyanda-4 so far is indicating very good gas content already.  I have not been able to source gas content data for Scotia.

See link to paper below on the Scotia Field from 2001 prepared by Santos. 

http://archives.datapages.com/data/petroleum-exploration-society-of-australia/conferences/025/025001/pdfs/24.htm

My independent research and discussions with quite a few indicates to me and ONLY IN MY OPINION that the current value of GAS SP should be at least $1.10 and $1.50. My research above indicates just how good our permit will be.

Soon we will be provided further data data on gas and coal analysis. I honestly believe that this will only confirm my SP valuation and above research. We are IMHO well under what I believe to be current fair price.

I firmly believe that with more updates from our team at GAS we will more than likely receive our first offer for our permit. What we have is just so seriously good. It is then GAME ON.

The big players would be doing serious homework right now on valuation of PL 231.

The big players have the teams and the expertise to develop our magnificent permit now. It only makes so much sense that team GAS will seriously consider all offers.

Soon the market will agree with what I am saying and will come for GAS and TEG like no tomorrow.

The Balance sheet for TEG after the sale of our permit will be a company maker in itself. Massive.

Soon the market will realise this and rerate our TEG accordingly. Such exciting times ahead.

WBE who now has 11.2mil. shares in TEG will benefit to no end as well as they will truly capitalise and what will take place down the track from the sale of PL 231.

So very happy for all holders of GAS, TEG and WBE.

Please note all of the above AIMHO. Please DYOR.

Pumper

Share

GAS Price at posting: 79.0¢ Sentiment: Buy Disclosure: Held

•