Cheers. BPT said it has put zero increase oil production in the forecast from the oil exploration wells to be drilled in the Western Flank. As much as 12(?) oil exploration wells will be drilled at a cost of $2m per well. What are the odds that BPT finds new oil in the Western Flank?
As a consolation, Kupe Gas will generate around $10 million per year of additional EBITDA because it no longer have to pay carbon tax. Previous carbon tax payments of $42 m has been paid back to BPT.
I think actual FY22 production is still up in the air. Could be higher than guidance of 21 to 23 mmboe. BPT may have put in a conservative range in their production guidance.
Ann: Beach Energy Ltd FY21 Results Presentation, page-53
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