RE: Long Term Incentive Plan (LTIP)2 Feb 2023 12:36
'The discovered gas was never worth 60-70-80p, that was predicated on potential further multi tcf discoveries. The actual gas in the ground was worth 27p at max, but subsequently got diluted to 7p/share. We are still depending on lack of further dilution for it to be worth even that.'
This was always a contentious point. The P1 reserves are 9were0 a few Trillion cubic feet, worth at the time a few Billion USD, Forgot the actual figures and all posts are probably deleted from that era. I have a figure of 7USD per therm ? I'm sure someone will remember actual scenario. The failure put this 7USD figure out at various 'feed the masses' events, but I do not think was in RNS. Since that time, the price of NG has increased. There were discussions on the sp value of P1 reserves, and 27p certainly was a figure mentioned, and there was much debate on if this figure included or excluded the various partners ownership of the resource. Assuming that 'down graded' figure of 7 p was accurate at the time, we no longer have Schlumberger and NG price has increased. On that basis 1.8p seems like a steel. However,,,,,,,,,,,,,,,,,,,,,,