Ann: Highly significant gas discoveries at Erregulla Deep-1, page-269

@invertedva

He had already made it clear that his stance is not to ascribe any exploration upside to STX's portfolio, especially the Permian plays. So it is understandable that he will assign no value to Arrino/Kadathinni. After all, STX hasn't even identified a drillable target yet.

If Macca has increased STX's TP by 1c (from 22 to 23), then they have assigned a COS of 10% to ED1 at this stage given the unrisked value is 10c (see my post above). Anyway, at least they have acknowledged the upside potential of ED1. Let's see what they do after the flow test if it is successful.

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