"Diagnostic testing is currently underway and subsequently, long lead completion equipment will be purchased. The remedial cementing process is planned for early Q4 subject to completion delivery, rig equipment availability and government approvals. The indicative cost of the project is expected to be approximately A$1.5m to A$2m and is economically positive given:
Contingent reserves of 7.5PJ (refer ASX Announcement dated 26 April 2016)
High condensate production yields
Requirement of only a short, low cost, 4 km pipeline to tie-back to the RGPF."
EGO Price at posting:
35.0¢ Sentiment: Buy Disclosure: Held