ESG 0.00% 86.5¢ eastern star gas limited

nsw projected gas reserves, page-13

  1. 4,234 Posts.
    Mrzp,
    the BOW and ESG comparison is like comparing KAR and WPL. Same business but very different stages, prospects and locations. BOW are only able to release such 'quality' results because of the near term producability of their assets.

    ESG unfortunately just takes longer to extract the gas and prove their completion techniques are going to be commercial. This adds capex and opex - but they still have a very very very very very SIGNFICANT resource in comparison to BOW.

    If 2P is used as a valuation basis, which I dont like to use, ESG romps all over BOW. You can talk up BOW all you would like, but they are in different markets and at differnent stages and the MC or resereves of BOW will not catch ESG. Thats just the way it is.

    Cheers,

    SF
 
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