Some of us have seen this coming for a while. Kudos for WGO management for keeping expectations conservative until the independent results are out. You could argue that WGO is fairly priced given their original reserves booking was closer to NSAI's. STX on the otherhand could take a hit if anyone actually valued the 1.2TCF previously advertised.
The big question is what this means for Stage 1 and Project Haber. Even in the 20/9 ASX release Project Haber needs 552 PJ of feed stock to underpin the project. WE now only has 300PJ 2P (150 PJ STX share). Typically you would want to underpin a project of this scale with 1P (P90) reserves which is not only 233PJ Gross.
Maybe They Skip Stage 1 and save the gas for Project Haber - or drop Project Haber and stick to DomGas - or buy out WGO and hope South Erregulla comes good.
The old saying "may we live in interesting times" may not be of comfort to STX and WGO holders today.
Ann: Strike delivers maiden Perth Basin gas reserve, page-35
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Last
20.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $572.1M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 20.3¢ | 19.5¢ | $1.138M | 5.714M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 37 | 1354940 | 19.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.0¢ | 1925583 | 11 |
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| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| STX (ASX) Chart |