The upside for Comet is the value of reserves and the value they...

The upside for Comet is the value of reserves and the value they will unlock if they get it to market. Explorers take stakes and prove up the reserves with drilling and tech work. It is very expensive and slow work. They attempt to transition to gas sellers by getting the gas producing. Often they get bought out before getting to production stage by the large energy companies or dont find commercial reserves.

COI has reserves and contingent reserves of 4090PJ at varying stage of proving up. 4090PJ is 4090 Million Gigajoules. Current market price domestically is around $8-10 per Gj. By my calcs $32.7B of prospective gas. The real question though is what it is worth in the ground not much, but how much is recoverable and how quickly it can be brought to market and what is the development cost. All comments are my opinion only. Please DYOR.