Production at Walyering will need to be capped at 25 TJ/d until STX prove up more reserves. Current 2P reserves does not cover 25 TJ/d production for 5 years.
Santos contract is for 36.5 PJ commencing 1 October 2024 for 20 TJ/d.
Walyering well performance impacting reserves and W8 drilling success is essential for STX cashflow to drill OH and fund WE costs.
The alternatives if unsuccessful is a capital raise or slow down WE expenditure. SE expenditure will need to go ahead to meet commitment to October 2026 date.
STX Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
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