re: b2-some more fundamentals
B2, you've kicked me into action. Firstly there are only two 'licensed' operators besides STO, to deliver production in the SA part of the Cooper-STU and BPT. These licenses take time. STU is run by a petroleum engineer who was head hunted for the job. Tino is exSantos and cut his teeth on this basin. Being an engineer he is risk aware by training and is seeking cash flow from oil, prior to playing with gas (next year?). The team of geos he runs has the best strike rate in the Basin, and they bring on production quicker than anyone else. His relationship with his former Santos colleagues is typified with their STO jvs at RSW and Derrilyn. This reltionship will gain even greater significance when Worrior (and Arwon!) utilise a pipeline rather than trucking some time next year. It will then move up a further cog when they finish negotiations on Doriemus gas drilling next season. There are two more holes scheduled this calendar year and a further nine commencing in March next year ,with , according to this weeks Annual Report, 70 Prospects with the potential for 79mmbls(!) in situ and 776BCF OGIP-that is enormous! Cheers,TAS (I'm excited!)
STU Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
