Area one was their main project at the time. If you take the mid point of what seemed to be their exploration target around the time of acquisition of 50tcf and apply ownership (8.5%) you get 4.25tcf applicable to Cove. It sold for A$1.5bn roughly based on currency conversions at the time.
Even if we find half that it looks like a big number versus current cap. Again though risk applies.
IVZ Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
