The issue they have is the CAPEX to execute the CCS, market wont reward PGY until some form of partnerships happens to de-risk the project. The NPV is quite good on just the Scenario one. Remember this is only including the 16MPT also, this project could be a lot bigger once you factor in the WA 481P.
CCS is making noise in the market but again, but the realities now set in which are NOPTA approval and the project CAPEX.
The good news is below the PGY and TEG partnerships should be able to really start increasing oil production with the 13m investment Storage Reservoir Preparation: Prepare Cliff Head Oil Field for CO2 injection. Capex: $13 million Timing: 2023 (Following Declaration of WA 31-L Greenhouse Gas Formation) Duration: 36-48 months Activities: • Increase fluid handling capacity up to 60,000 bbls per day
(20min delay)