Checkerboard strategy - top priority was securing Phase 2 Dev Area - enough acreage for over 430 wells, 3 layers > 2 bfc/d for 20 years. Proven depth and geology, good relationships was pastoralists, near infrastructure. Next priority was Northern area.
Development of the basin will start in deeper areas and spread out over time.
White space - strong relationship with Formentera.
Farm-out process - soft process has been run for a while now - including with Asian IOCs. Time to start structured discussions once IP30 available. RBC ran the Origin process, useful intrinsic knowledge.
PIPE - opportunistic - Sheffield and Top 10 shareholders supportive. No read through on flow rates (yeah sure!).
Datacentre opportunities - see this as extended Phase 1. Hoping for a few MOUs in quarters ahead. No NIMBY issues, near fibre. 200 mmcd required to power 1GW datacentre.
TBN Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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