You sound like an informed poster. So I'm interested in...

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618

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07/03/24

13:12

Post #: 72793258
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Originally posted by Bigdaddy6774: ↑

You are not making sense. SE1 might produce. No-one has said SE2 or SE3 will eventually produce. They won’t. There is a lot of innuendo in the announcements trying to lead one to believe something good could yet happen but nothing that says Tahas in as many words.

There’s just no meaningful quantity of gas. Remember the columns which might be gas bearing are only 16m in SE2 and 13m in SE3.

WE2 had 10m gas net pay in the Highcliff secondary target alone and 58m in the Kingia. That’s meaningful.

SE1 is remarkably close to WE generally. Look at Strike’s many published maps and tell me the South Erregulla field in which SE1 is located is not an extension of the West Erregulla - the maps clearly show the field spans the boundary with EP469. If I was in Gina’s shoes I would be more than just muttering about unitisation…..

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You sound like an informed poster. So I'm interested in what your valuation is for STX given your sell sentiment. Eg. What is your assumed recoverable reserves for WE and Walyering, and what is your assumed value for those gas? Obviously you have discounted OH and SE (inc SE1) to zero.

Also, column thickness is just one of many factors in determining recoverable volumes and commerciality. SE1 Kingia had 16m net pay and flowed c.80mmCFpd. WE2 High Cliff might have a 10m net column but I very much doubt it will flow anywhere near half that rate. The compression of Kingia sands south of WE is pretty consistent and well documented. Look at Waitsia and Trigg.

618

Last edited by 618: 07/03/24

STX Price at posting: 21.5¢ Sentiment: Buy Disclosure: Held
16 Upvote

0 Great analysis

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