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High Peak Royalties (HPR) has royalty interests in 24 oil and gas projects in Australia, Seychelles and the United States. The Company’s key assets are its overriding royalty interests (ORRI) over coal seam gas (CSG) permits PL 171 and ATP 574 earmarked for the QCLNG project located on Curtis Island, Queensland. The royalty model adopted by HPR enables it to hold a portfolio across exploration, preproduction and producing projects benefiting from project revenue (currently 5 projects are in production) without the requisite capital and operational cost obligations. HRP has minimal overhead costs and is supported by an experienced management team who continue to seek further royalty and growth opportunities. BUY, Target price $0.32/ps.