Stephen Bizzell has done it before with Arrow energy where he made shareholders a lot of money. I found this article while researching EXR (plug: drilling soon 7.6TCF) which Richard Cottee is now CEO of.
https://www.theaustralian.com.au/bu...gs-its-a-gas/dfafed85fc759b4148872574d1b14b74
STX won’t IMO ever be a producer. They’re a takeover target. Mitsui and Beach who own the Waitsia development could justify an LNG train in WA if the combined Waitsia with STX. This effectively allows them to realise around twice the gas price achievable on the local market.
The big question is when the first offer comes. In the case of AWE that was 3 days after the flow test on Waitsia 4. Keep in mind Waitsia was about proving that the Kingia and High Cliff could produce, STX probably don’t need to do this again. It’s known to produce, they simply needed to prove that it was there...
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22.5¢ |
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Mkt cap ! $644.7M | |||
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