Looking to see if they will now advance any greenfield opportunities - they mentioned in a presentation not too recently that they had advanced further Moranbah power generation opportunities, I don't think it will be just this one, which seems like more of a synergy / operating cost reduction play rather than a revenue addition. If the company is targeting growth to 35 TJ / day, Dyno/CRL take up about 20-21TJ per day and TPS will use 1.1TJ/h (so can account for about 5-6 TJ/day once the new contract begins). This leaves alot of spare gas to be utilised and ultimately they will want to get production to 40 TJ / day (CEO's share bonus is based on this metric), so I have a feeling they will be looking to develop a new peaking power generator the same size if not bigger than TPS. They could also develop a waste coal mine generator like Moranbah North, but I think the better play is to target peaking generation.
They have state govt support with this and if liberal gain power this year, gas will likely be included in the Capacity Investment Scheme, so they have some tailwinds propping even further development in the short term.
QPM Price at posting:
5.7¢ Sentiment: Buy Disclosure: Held
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