You do realise that SNE at $60 oil would only generate around $45 million profit a quarter for WPL - and thats 2025+ (to give a few years revenue to pay off production costs. That's using CNEs production numbers, OPEX guidence and taking into account government take + WPLs target first oil.
Now at a PE of 12, it in 2025 will represent about 2.1B of WPLs market cap... A single project of this scale is not make or break WPL, discount the project to present day and you'll see it shouldn't represent a major part of WPLs price...
Pluto 1.5mta expansion, Wheatstone and Myanmar are all projects which I'd value in the 2-4B to WPLs market cap, with the real further growth $5-10B being Port Arthur, Grassy Point, Kittimat, Scarborough etc. they are bigger slower moving projects. PC needs one of these to go ahead - the rest are bonuses.
Senegal is a nice project, but far from critical to WPL or PC.
FAR Price at posting:
8.5¢ Sentiment: None Disclosure: Not Held
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