CN on Commsec executive series, page-23

I wish I could LNC but the final development plan and DOC could be much the same thing IMO , I still doubt FAR would commit to debt untill development spending begins after FID , exploration and appraisal drilling on borrowed money is not ideal...the jury is out for me on that one and I still expect a CR, probably after the first well.

Apart from SIRIUS getting much bigger and SPICA rearing its head the other thing that stood out for me was FAR's Statement of commerciality was based solely on the lower sands , this is important as the upper sands are just a bonus and these two wells are really an exersize in field development should they be included , which itself is very likely...

SIRIUS and Possibly SPICA sit lower fhan SNE so will be below the water cut so oil passing through to SNE will only be hekd in traps and are also unlikely to contain the thicker sands only the thinner ones, so in that respect the results of these next two wells will be important for SIRIUS and SPICA IMO..

Cheers Whisky