As we enter the last month of the SOA, the clock is ticking for the STX SP to improve. In terms of catalysts, the SE3 drill should reach the primary target shortly. This is pretty important as it now seems the flow testing results/revised 2P figures for SE2 and SE3 won't arrive in time for the vote. This creates a risk for TPD holders as one HC poster and one broker analyst have raised questions regarding possible compartmentalisation (see attached). FWIW, I believe the anticipated 271 Pj of 2C conversion will fall short of the target as 93 Pj of that pertains to the Wagina component of SE1 which it appears has not been hit on either SE2 or SE3 (noting that the Wagina was a secondary target only). So, TPD SH are entering the voting phase pretty much in the dark as to the promises of untold wealth being supposedly being unlocked from South Erregulla coupled with a declining STX SP.
For me, it remains a NO, hopefully a 3rd party emerges to provide TPD SH with a greater level of certainty than what is currently being offered. JMO.
TPD Price at posting:
18.5¢ Sentiment: None Disclosure: Held