As far as I am concerned, Whicher is a marginal project for Amity and has been all along. What has stopped them from dropping it is the huge build up of capitalised costs on their balance sheet and the write off associated with this.
I don't think 5mcf a day is going to cut it. Given the low price of gas in Australia and a simple lack of a reaaly big markets/other competitors for the same markets etc, they really need a massive flow rate. And the capex to develop the project would be huge. It's not like Turkey, where the market is on their own doorstep.
Big big risk in my opinion for AYO.
AYO
unknown
