BPT only own 60% of Otway Gas Project. So the $1B drilling in OGP will cost BPT only $600m over 3 years. Will be funded fully by operating cash flows.
The thing about OGP is once drilling program is completed, there will be very little Capex for next 8 years. It is purely drawing out the gas using the same wells just like the Kupe project in NZ. Unlike the oil business where you have to keep on drilling year after year. OGP potentially will double its earnings in two to three years time. Definitely worth doing.
BPT only own 60% of Otway Gas Project. So the $1B drilling in...
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| BPT (ASX) Chart |