Yeah, im also a bit more restrained on that hope. It's good news and with oil price trend up for now the sp should move in right direction but bpt has been range bound below $2 for a while now, with reason.
Fundamentally, they'll likely hit Eofy at $-500 to -550m net debt due to their capex funded growth and at best this gets us back to FY19 production levels by FY 26 and that's still more lower margin gas prod vs WF oil prodn in 2019. And Wf & Cb still on constant slide. Think above $2 possible at FY26 if oil stays here, but possible before then if oil goes up. In short, bpt looking better but not expecting rockets here.
Yeah, im also a bit more restrained on that hope. It's good news...
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