Good to see some more clarity on the many additional obligations, permits that SN holds.
From my research time line looks something like this:
EP469
- WE3 well civils commence May 2020
- FEED award May 2020
- WE3 well regulator and joint venture approval Q3 2020
- WE3 drill commences Q3 - Q4 2020 (rig dependent, only one warm, others need a lot of work)
- FEED completion late Q4 2020
- WE4 & WE5 well regulator and joint venture approval Q4 2020
- Final Investment Decision announced to market Q1 2021
- WE4 & WE5 drill commences Q1 2021
- Gas treatment and tie in to pipeline completed with first gas from WE 2/3/4 & 5 Q1 2020
EPA82, 98 & 99
- Native title ongoing, dont expect any further development/progression past Native title in 2020.
- Analysis of Beach Energy's 3D seismic data in 2020
EP447
- Analysis of 3D seismic data in 2020 dont expect any further development/progression
EP495,
- Farm out 2020, unlikely in this market to get any bites until Q4 2020, dont have funding to run this alone or risk appetitie, dont expect any further development/progression.
- 3D seismic Q1 2021
EP488 & 489
- Remain in suspension with some geophysical analysis, just enough to keep the regulator happy
PEL 94 & 95
- Remain in suspension with some geophysical analysis, just enough to keep the regulator happy
PEL 96
- Piloting ongoing 2020 - requires a daily rate of a million to half a million scf/d to warrant any future wells
- Anticipate this will be mothballed or quietly continued whilst EP469 is developed.
PEL 515
- Suspended looking for farm out 2020, unlikely in this market to get any bites until Q4 2020, dont have funding to run this alone or risk appetitie, dont expect any further development/progression.
PELA640
- Native title ongoing, dont expect any further development/progression past Native title in 2020
Very full year, for a small cap gas exploration company, with a lot of juggling obligations, joint venture partners, costs and developments, here is hoping they can clear the slate a little and concentrate on the development of WE.
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