stock price target $1.97, page-75

My understanding is Otway Gas Plant production will increase substantially starting October 2021.
Two offshore development wells in Geographe should have just been completed by now and are scheduled to be connected on July to October 2021. As COE just announced, big demand for gas currently in the East Coast. Gas spot price has spiked to $12 per GJ.

So don’t count on BPT gas, LPG and condensate production to drop in FY22. Highly unlikely.

Wet gas production in western flank should remain at full capacity of 2 mmboe. Santos JV at Moomba should at least be same as FY21. Kupe NZ gas would increase by a little bit.
And Perth Basin gas production would increase by about 1 mmboe.

Western flank oil is the problem. My view is there are plenty of oil left in the area that is commercial at current prices. It only takes one week to drill/move each exploration well at $1m cost in the western flank so we should get lots of results per quarter in FY22. To connect new oil wells will cost extra but with oil prices at A$100 per barrel western flank oil remains a very high margin business.