Scottish Power sell Salt Cavern at Byley to E.on a German utility firm for 96m.
6BCF facility 96/6 = 16m per BCF.

Star Energy- Humbley Grove gas storage facility up and running in September this year.10BCF facility.

Humbley Grove worth 10x16m=160m or 210p per share. Star also has E&P assets worth 90p a share 210p+90p = 3.00.
Debt of 35p a share =265p.

On top of this Star has a further 80 BCF seeking planning in UK.This could add another 1.3 Billion to the company value.Current Market Cap 180M !

No surprise Petronas took a 20% stake at 2.00 recently.

One to watch.

Market cap is 255m which makes the SP look pricey if the planning permission is refused on its other proposed gas reserviors. If it gets the planning permisision then with the well publicised gas supply problems it could well be a racy share to be in.

Ooops meant 3.265p in the posting above - guess the fact that Petronas (who are Malaysian I think) have built a substantial stake in Star must give some support to the share price. As always is it so difficult to judge a fair value on a company that is building for the future.