Rexsh, Your maths is probably right but it's probably best to...

Rexsh,

Your maths is probably right but it's probably best to take a conservative view of timing, rather than an optimistic one. This is new ground, literally, and after all the history and disappointment the last thing any of us should be doing is over-amping any expectations around time.

I can see that getting the drill and complete right will be a catalyst for some serious interest in the story. To get a successful drill and seven completed fracs will really be an achievement. At the very least then, there will be a real opportunity to test productivity.

Others may have more commentary on this but my recollection is that most of the really complicated drilling in the Cooper Basin has typically not ended well. A ton of cash was wiped in AT855 (think that was Drillsearch) and I recall Beach have left quite a few drill bits underground chasing the deep Nappamerri trough (with Chevron?). I just re-read PSI's comments around two-thirds COS drill/complete and two-thirds COS reservoir (or productivity) in an earlier post. Apologies PSI if I have that wrong. Interesting! Answers my earlier question.

IMO if Jaws 1 (or a follow-on) is positive, my feeling is the upside remains potentially very large. I see little chance of STX actually operating the lease in the success case . Why raise a ton of money and become what you aren't. Time for majors to step in and put their foot on a big resource. STX's tenure will likely be over if commerciality is proven. A positive Jaws, some proper pressurised cores, additional seismic info. They wouldn't just have the intro to an Information Memorandum, they would have the Executive Summary.

Anyway, back to the near-term realities, I hope Google Maps works at -2km's, so the drill bit can travel 800m horizontally underground and intercept with a 7-8 inch vertical. Hopefully this is easy with today's tech advances. A sort of analogy is the channel tunnel - England -> France - this one had a happy meeting.

Cheers

Adaltiora