Interesting observation, hence my call all of the santos paid media keeps pointing to the elephant in the room being high co2 but no solution EVER offered. First they have to bare the high cost of separating the co2 then work out where to sequester the co2. Even if they found tcf empty hole in bottom of location in near location, the dollars to do all this plus build a pipeline to Darwin spells game over re irr and npv.
Darwin lng pgas has a co2 content of 1% so Barossa, an even bigger resource of even higher co2 than previously forecast, merely creates an even bigger elephant for Barossa jv.
Of greater importance is that Es has some 60% even more co2 than Barossa and Es is 4 times as big. Things have gone quiet on the media front re shell looking to offload es stake. I am hoping for a Chinese es jv partner who is also looking to be the ts buyer and downstream seller.
If Barossa is a very big elephant then es is the mammoth in the room.
Adl
MEO Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
