Impact of SE

I've been thinking about the impact of SE on the STX share price...and what needs to be done to be able to book a 2P reserve.

From my recollection they have a P50 estimate of 1.6tcf, which translates to about $1.6B if the $1/bcf rule of thumb that others mention is about right. So, with about 2.1B shares on issue (with performance rights incl) then it's worth about 75c per share if it comes off. (possibly a lot more if they can access the NWS market/margins)

My question here is, how many holes do they need to drill in order to turn it into a 2P reserve? Would the optional slot help them book a 2P at SE?

Of course, success at SE also brings Haber firmly into play, which if their plan of a 30% free carry comes off would be worth something like $500m-$1b based on current cost estimates alone, so maybe more. So another 25c+ per share...?

So, my rough back of the envelope calcs suggest SE + Haber package deal is worth about $1+ per share, but I'm no O&G expert so I'm putting it out there for others to share their thoughts / knowledge as to what STX need to do to book this reserve and what it would mean for the company, and it's shareholders.

Thx in advance for anyone that shares their thoughts. GLTA