Going nowhere, page-15

All fair points interested.

However, Hornet has already proven to be economic in the sense that SXY has a sales contract with STO.

Then you have Origin farm in at the same price as Chevron (perhaps $30 less per acre). I agree there is no guarantee it will be economic, but from my research, it will provide better flow rates than the Deep Nappamerri trough (IMHO). Shallower wells and lower CO2. But only drilling will really prove that one way or the other.

While I think SXY has been successful with all it has aimed for, its only now starting to catch up with the blue sky that had been priced in at certain times during the last 3 years.

The main difference being they now have huge contingent resources for Hornet, the CSG still sitting waiting to be sold off and oil is increasing. I disagree with you about the next quarter having less production. More wells online equals more oil. Even with the declines in the old fields. I think guidance will be better than 1.5. Although perhaps they will underestimate to ensure they actually do meet or beat guidance like DLS and BPT have been doing.

btw - I also disagree about blue sky not existing any more. SXY still have a large amount of acreage that is under-explored and not just for conventional targets.

While I am critical of SXY at times, I hold because they are better run than most oilers (which for me means I am much much more comfortable holding).