My thoughts exactly. We don't know how much Beach/Mitsui are spending on each well, and what boost to reserves they are getting on each one. But let's say Strike has 300PJ of 2P reserves at WE after the ED upgrade, Beach and Mitsui would have to ask themselves, whether they actually have that upside potential in total in their tenements, and if they do, how much it will cost to extract it. They sure seem to be making hard work of it.
Another consideration is that WE could have further upside even accounting for an upgrade from ED. And given they have access to export prices, spending $2/GJ surely is a good purchase.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)