'Santos Investor Day', page-18

Psi,
Not disagreeing with you, but I think the associated gas is a big part of the story.

Without the gas, extra capacity is cheap, so you max out on the plateau. Add reasonably expensive gas handling and you want to get a return on that capex (whether leased or not) over more than a brief plateau. I suspect though that when they do the studies they are likely to opt for a higher rate, esp if the appraisal wells deliver. 50,000 does seem a bit low to me, but based on half the gas being associated I think thats about 100 mmscfd, which I suspect they are assuming for one gas reinjection well?

Very early days, and as we agree best to start conservative.
EL