worth checking, page-45

Now that have the attention of the chartists with good software, why the run.

Cap at .19 is 117M. Its all about the probablity of the reserves making it to market.... he is previous calc reposted,...

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.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8	Column 9	Column 10	Column 11	Column 12	Column 13
0	COMET RIDGE COI
1
2	CSG	Reserves PJ	Contingent Reserves PJ	Total PJ	Total GJ	AUD $ per GJ	Value($) CR + R	Less Dev / Admin	Net Value
3		1P	2P	3P	1C	2C	3C	Cont Res + Res			Current Prices
4	Galilee					67	1870	1937	1,937,000,000	8	15,496,000,000	77,480,000	15,418,520,000
5	Mahalo		30	219	112	232	372	965	965,000,000	8	7,720,000,000	38,600,000	7,681,400,000
6	Gunnedah						562	562	562,000,000	8	4,496,000,000	22,480,000	4,473,520,000
7	Total CSG		30	219	112	299	2804	3464	3,464,000,000		27,712,000,000	138,560,000	27,573,440,000
8	Galilee Sandstone Gas				56	153	417	626	626,000,000	8	5,008,000,000	25,040,000	4,982,960,000
9			30	219	168	452	3221	4090	4,090,000,000		32,720,000,000	302,160,000	60,129,840,000
10	Shares on issue												530,700,000
11													113.30