With Dorado being put on the back burner yesterday it potentially reduces competition for STO capital spend once Pikk/Barossa are done. They should have 2-3 billion a year FCF once those two are completed. That leaves what? Narabri, PNG LNG, Pikka in competition for the capital spend. Plus maybe that CCS project. Would be nice if all the CO2 from NTLNG production could go straght back in the ground and help put the greenies back in their boxes or atleast lower their voices. (last I read 4 companies have MOU's with Santos for that Bayudan CCS project, they never said who those 4 are. I bet one of them is TBN, I might only put a beer on that one)
No Certainty beetaloo will be the winner in that race yet but looks promising. The timing is interesting though, drop Dorado one day, accounce beetaloo investigation the next. They also have a very friendly NT government at the moment so maybe they are thinking get the plant in whilst we can.
TBN Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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