Real Energy Corporation, first listed in December 2013, offers investors a relatively low risk onshore Australian gas exposure. The company has reported an independently assessed 13.76 TCF Cooper Basin resource. It will proceed to “frac” two proof of concept exploration wells with proven gas in the coming months to demonstrate commercial flow rates. The potential development scale will be lessened by the proximity of the wells to existing infrastructure. The company already has a sales letter of intent with Incitec Pivot covering the supply of gas for 10 years. Sourcing capital remains an important risk but with 100% interests over 9,523 square kilometres, there is ample scope to fund development through farm-out arrangements and joint ventures with potential customers. A market cap. of $17 million offers an attractive valuation. Real Energy Corporation has been added to the PortfolioDirect Phase I portfolio model.