So ultimately targetting plateau rate of 12 MMscfd off 3 Vali wells.... accelerated option would assume at least 15MMscfd including Odin. Assuming success at all four, the question would be whether they leave Odin as a DUC; given that will, by my understanding, need a seperate flowline to connect to the gathering point. The need for fracture stimulation will also be a key factor - particularly if the Toolachee flows freely in Vali 2/3 and/or Odin has a stratigraphic component. I can see why they are holding off on a funding announcement - they'd really want to see what they're dealing with before committing to what could be quite a variable requirement based on frac and pipeline costs under various scenarios. All in all though - looking very positive atm.
MEL Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
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