Yep, I think we are due some success! Very optimistic on both, provided there are no further drilling issues - given that both have had validation of the seismic through higher target success.
Will be interesting to see the commerciality of the 13,000 raptor sand, given the lack of capital cost by utilising an existing platform. Have been trying to work out how much opex it will add in a success case - thinking $10 would be fairly reasonable? Would give fcf of just under $50usd per barrel at current prices based on opex of SM71 of around $7 per barrel. Would give circa $2.5m aud net (including a smidge of gas revenue) per quarter, assuming a 1500 bopd well (1500 for the 13,500 sand, can't see the 13,000 doing that...). Effectively 2.5c per share per annum, with a 1 cent divi on a 40% basis. Would cement things in the 15cps range.
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