Originally Posted by
Monarch
Oil and gas assets are on the GNE books at a value of ~290 million with about 200 PJ of proven reserves remaining, at 46% stake GNE can claim ownership of 92 PJ. From the 2022 HY report the gas netback is ~$10/GJ for commercial and as high as ~$16/GJ for residential. There are 1 million GJ in a PJ, hence GNE can claim ownership of 92 million GJ. If sold to commercial customers that delivers a "total netback" of $920 million, if sold to residential it delivers $1.472 billion. So unless my math is wrong, either there are significant extra costs not being accounted for in the netback calculation or GNE's O&G assets are grossly undervalued on the books. The above math also assumes all of the oil and gas energy assets are sold as gas, which obviously isn't true but depending on the netback for oil etc may be valid.