I wouldn't fully write off SE just yet. I was running some calc...

I wouldn't fully write off SE just yet. I was running some calc and if they can prove up the eastern compartment (perhaps with another appraisal well - which they can by utilising the spare SWE1 drill slot), then 128PJ with two production wells may be sufficient to see FID for SE standalone 40TJ/d processing. It also carries significant benefit in terms of generating additional FCF to help fund an accelerated OH appraisal program if OH2 proves to be successful, as well as strategic value in terms of having the processing plant up and running so they can expand it to tie WE back in. It helps to avoid the nightmare of having to going through EPA approval for building a processing plant on public land within EP469.

Having a processing plant located on the precinct will also help with processing future gas should Arrino, Kadathinni and/or Eneabba Deep proves to be successful.

618