In all fairness to Warrego, when they picked up the permit they had no inkling that the Kingia play existed. Until AWE drilled Senecio-3 the conventional wisdom was that the Kingia/High Cliff is non-reservoir based on a few wells. Remember, Waitsia Field has 19 old wells over the top of it - some came within metres of finding the Kingia 40 years ago. Strike seems to be getting a lot of misplaced credit for "unlocking the Perth Basin". Arguably, AWE did that before they were taken over when they lost their "first-mover advantage". That said, STX is certainly the early adopter and has agressively got after the play. Credit to them - I just hope we all make some money out of it one day.
In all fairness to Warrego, when they picked up the permit they...
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28.0¢ |
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Mkt cap ! $801.0M | |||
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