"Drill OH when Walyering starts to looks like its running dry in a few yrs"
Here lies the issue Wot. 41Pj 2P as per Walyering Reserve Statement 23/9/24 4.6Pj produced in fist half this FY (= 9Pj p.a.) Remaining 2P today estimated 36Pj. Infers 4 years supply remaining from Walyering if all the holes are in the optimum location to retrieve all the gas. (Note that W8 is not included in reserve statement and if successful will give breathing space) If they go to nameplate of 33Tj day then it is only 3 years! Last year during Quarterly SN mentioned they were already taking steps to install mid life compressors.
Given the lead time of 18-24 months to get OH up and running then they really need to start soon and hope that they can get through. You can see why W8 was prioritised, to extend Walyering life, if a duster then a lot more pressure. I'd have a fair guess that over the Christmas period this would have been causing SN considerable stress as a lot riding on it. Others may have thought with 300Pj at OH our strategy should have been to drill there and get that moving. To put it in perspective, 300Pj would supply a 40Tj plant for over 20 years and at $100m per year that's $2b total revenue in today's money!!! Generate electricity from some of the gas and add ?%
Note my thoughts and speculation only.
STX Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)