I posted this on the 6R ATP769P Drill I think. I didn't think it was all that flash. Hope the new ones come up better!This flow rate is not all that flash 28000 standard cubic feet / day.
I should use it in context against other csg producers.
28000 is 28 mcfd. Qld Gas often flowed at 500 - 1000 mcfd
Qld Gas probably do have the best flows in the world though....for csg (per Richard Cottee...although he was perhaps biased).
I recall the prospectus on this saying they were hoping to acheive 600 PJ (from memory, don't quote me). At say 60c/GJ that is $360 mill worth....current Market cap $60 mill.
Some upside if reserves come in well in this qtr.
YT, they are some amazing figures. If you love GIP, then you should have a look at ECU - a real eye opener if GIP were to turn up at surface.I have been a holder of WCL for a month or so now and have just doubled my position at 50c
Remember PES was once a 30c stock and finished up being taken out for $8.25c by you guessed it BG
Here is a quote from MEL's latest presentation re takeovers/acquistions of CSG companies/projects211 PJ's at 40cents a PJ = $84.4m = Approx $85m
Not sure what you mean when you say intrinsic and percieved value
Just take a look at other CSG stocks, see the EV or Enterprise Value per GJ/PJ that they trade at then look at WCL, also look at what BG (WCL's 50% partner) has paid in the past when doing takeovers and look at what others have paid
The avg has been $1 GJ/PJ 3P reserves, I'm only using 40c a PJ which is at the low end of the takeover offers