Need to note that the acquisition was severely delayed (for whatever reasons), original proposal they were meant to take over at 28 TJ / day but they had to start from 23 TJ / day and had months behind delay. They essentially were done kind of dirty. They informed the market of acquisiton in April and from memory expected close to be by end of that FY but didn't occur until months into the new FY.
These numbers they have quoted will come to fruition, these things take time. Since takeover they are growing gas at an acceptable rate and if they hit 35 TJ / day by start of 2025, should be a positive return from current levels (given no further CR).
New wells should be completed from October and slowly develop gas over a ~6 month period.
Gas and gas fired power stations are a hot topic at the moment - fed/state govt are pushing it at least for the medium term as transition takes place to renewables, funding is available.
QPM Price at posting:
3.5¢ Sentiment: Hold Disclosure: Held
