I really don't care if it takes 10 years the upside in SP will come years before production as with any field,mine or po ,as with certification taking 2 years thats the longer time scenario than peers but if it does again by this stage the SP would of already run as funds enter.
As with farm in partners you should look at Bloomberg it has the investment charts in oil and gas and they are the lowest they have ever been with a slight uptick now as funds start gettin allocated for investment, (will post soon as the app has some copyright protocols) there has been no investment anyway except legacy projects that were signed before Covid even then they have been few and far between and heaps of duds so yes there is risk.
I will accept there is risk but cost ! really ! for a gas field the drilling costs are remarkably small note I said for a gas field not a Mum&Dad who has no idea about o&g costs.
You have touched on something I think we can agree on and that is to get a field up and running takes time, what does that say about the future of gas in Victoria ? there have been some duds like Dory and heaps of fields that have failed on seismic data ,Emp might fail but its data is years ahead of any other projects we know about ,by saying no one has taken an interest is only guessing maybe they have thrown off the record lowball offers that have verbally not been accepted, the O&G industry runs like this they don't go and relay private conversations to Mum and Dad investors trying to make 10 mill on a 5k investment.
As with my knowledge on O&G thats for posters to decide
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