Ann: Quarterly Report - Q2 FY23, page-31

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andrewgravy

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16/02/23

20:06

Post #: 66296345
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Originally posted by Tasman66: ↑

I think they must be working on finalizing the tie in of the SRP.

Following is from the 22/8/22 full year results, page 2;
"During March and April, the OGPP was shut down for 14 days while the operator (APA Group) executed
the following:
• the Phase 2B works, which comprised the installation of the solids removal package (SRP) aimed
at improving plant reliability and increased sustainable production rates. Tie-in and commissioning
of the SRP will be completed later in FY23; and
• the installation and commissioning of the gas ‘polishing’ unit.
The total cost to Cooper Energy for the Phase 2B works was $15 million, largely funded from escrowed
funds."

And page 6 from the 24/1/23 quarterly report:
"Capital expenditure
Capital expenditure incurred of $13.3 million was 39% higher than the prior quarter, largely attributed to OGPP
integration costs and Phase 2B works, and stay in business capex in the Gippsland Basin, along with OP3D
exploration spend in the Otway Basin."

It would seem silly after so much was spent purchasing/installing the SRP last year to not now pull out their finger and tie it in. Also, it would be poor business if Maxwell left that undone before handing over to Jane Norman on 20 March.

Accordingly, we should expect an announcement prior to 20 March that the SRP has been tied in.

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Good analysis. Jump jump soon

COE Price at posting: 16.5¢ Sentiment: None Disclosure: Held
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Ann: Quarterly Report - Q2 FY23, page-31

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Ann: Quarterly Report - Q2 FY23, page-31

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