Thanks
@Glish, very kind of you.
Looking at a quarterly or two, and reading through the OCI threads, here’s my brief take (with my rookie gas hat on):
|
| COI | QPM |
|---|
| 1 | Project stage | Explorer/developer | Producer |
|---|
| 2 | Reserves 2P (Proved & Probable) | 266PJ Large tenements still to be drilled | 331PJ Fort Cooper Coal Measures + hookups with more met coal miners would add reserves |
|---|
| 3 | Project structure | Mahalo COI 57%, STO 43%? Mahalo N, E, Far E COI 100% | 100% |
|---|
| 4 | Pipeline proximity domestic | 14KM | She’s On It |
|---|
| 5 | Pipeline proximity export | 80KM | 400KM+ |
|---|
| 6 | Resource productivity, flow, water, CO2 > OPEX | ?? | ?? |
|---|
| 7 | Management | Bleak sentiment on HC | Bleak sentiment on HC |
|---|
So perhaps its Arrow overhang, current QPM team's short time at the wheel, lacklustre TPS figures to date, lack of export options keeping a lid on our SP.
COI look like to be benefitting from being on the optimism part of the Lassonde curve.
Resource wise it looks like we stack up very favourably. OPEX is always key, and DW has made good inroads here, beating their early estimates.
Super-intrigued by the Moranbah base & peak power development in recent presos; perhaps QPME's future advantage is in power generation over gas customer supply, noting they may want to keep the TECH's potential requirements uncommitted to contracted sales in the medium term.
Still, (and of course I'd say this), but on balance we look substantially undervalued as a snapshot.
Life / business though is a video, so more frames needed!
Happy Sunday all, enjoy your Eurovision and other favourite pastimes
(20min delay)