With such a lot of pressure in the hole causing the drilling to stop this is similar to what Yulleroo 2 experienced , so the Basin centred Gas accumulation story is being confirmed with every well drilled. Also de-risked with every well.
This has the potential to have more reserves onshore than Woodside has AND we have the oil story as well (this could be floated into a different Company as well).
The share price will move later as 2P numbers are booked in the 4th quarter of this Year AND the horizontal well has to be on the cards for next season .
So a way to run yet and whilst the share price has held up well it will continue to grow as the story continues to unfold BUT the same capital markets that are constrained now will hopefully keep predators at bay as their caution keeps them watching from the sidelines as a new contender for the top WA Oil and Gas Company to evolve.
It feels good to be onboard.
baby woodside - buru
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