Hi OOO,
thanks for your post which shows clearly that CSG exploration is back on the screen of the market and how quick a major re-rating can occur!!
That’s great for our STX...
In particular because our project plays in a complete different league compared to GLLs Glenaras Gas project...
One can roughly estimate potential ‘net pay’ and compare different projects by multiplying coal thickness with gas content:
GLLs R3 coal: about 3m x 5.3 (m3/t)
STXs Vu upper: 35m x 6.1 (m3/t)
This significant differences of these two projects will have a very strong impact in particular to EUR and therefore to the overall economics...
Actually - from my POV - each of our ‘upside’ coals Vm3 and Vu lower are more prospective than the whole Gelnaras Gas project... we are really in a different league...
If STX is able to flow gas as expected (and we are right on track to do so...), than the SCBGP will be transformational for the entire industry...
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