The planned 200 wells are in the western flank including some in Bauer. Bauer has been difficult to work out how much oil is left in there. For many years brokers have underestimated Bauer’s size and predicted Bauer’s steep decline. This is nothing new. Even the former chairman of Drillsearch thought Bauer has reach its production peak in 2017, one reason he said Drillsearch shareholders should accept BPT merger offer.
Also, the wet gas business of BPT in PEL106B western flank still has growth in it. It is liquids rich. Plenty of money to be made in the Western Flank of Cooper Basin if the oil price holds. The pay back of Capex in western flank is less than one year.
Oil $60 Short Term Target, page-160
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