This is part of an article I read over at Stockhead.
"Unconventional gas value

Adding further value is what Pitt Street describes as an “underappreciated gas business” consisting of a portfolio of unconventional gas resources in Australia and Botswana.

These have a combined best estimate contingent resource of about 460 petajoules.

At least part of this resource can be converted into proved and probable reserves in the near-term when and if commercial gas flows can be proved from the ongoing testing of Pure Hydrogen’s Project Venus pilot well.

With the gas market on Australia’s east coast expected to experience a supply gap by 2023, Pitt Street noted in its paid report that the gas resource would be a positive for Pure Hydrogen.

This gas resource could also be used as feedstock for the company’s hydrogen production, which would further de-risk the gas projects.

Pitt Street believes that these competitive advantages value Pure Hydrogen at about 60c per share on a base case and 83c per share on a bullish case using a sum-of-the-parts approach.

Importantly its hydrogen business alone would justify a share price of about 21c, just above the current price of 20c"
 

I hold PH2 shares