It's not good news, but I don't think it'll be as bad as 6's...

It's not good news, but I don't think it'll be as bad as 6's tomorrow morning!

This green tape is becoming a killer and although I agree with him, I'm not sure if the CEO comments today calm international investors who have invested in STO and other Aus OG projects.

In terms of delays and issues this decision creates for the project - the construction plan was to commence at P86 and work south at a rate of 3km per day.

Let’s hope the plans can quickly shift to work north from KP86, rather than south. At 3km per day, they will have made it at KP0 within 30 days (mid to end Dec) and will not be able to progress until the hearing has completed (court judgement today extended injunction to 15^th Jan 2024).

I’d assume the project gets slightly devalued by analysts due to (in order of magnitude):

1. Real and increasing risk that STO must revise a new environmental plan and await NOPSEMA approval once again to operate south of KP86 - lengthy delay.

2. Project sitting idle for 20-30 days waiting for approval to start south of KP86. (Injunction to 15^th Jan with reported costs of up to $1m USD per day).

3. Potential delay in switching the works plan to operate north of KP86 rather than south. (1-3 days).

I understand that any new plans to connect to Baya Undan at a more western point would require the same approvals and process would restart, this creates a stalemate for STO if this hearing is unsuccessful.