Freida
Yes appreciate the difference between Sandstone and volcanics.
I am possibly a little jaded after the constant development disappointments over the last couple of years, however with only 25% of the wells planned for developement of the sandstone discoveries, and with sandstone wells to date flowing low bopd, I just can't find any cause for over exurberance.
Our fate this year IMO lies with the volcanics, as much if not more than the sandstone plays, and as we all know they have proven to be inconsistent and prone to watering out.
If I was looking at the story with fresh eyes I may see value at the current SP, but my current thinking is that there are easier stories to read. CUE has proven a better oil investment for me to date, and offers the same level of blue sky potential with a lot more stable production profile.
FreidaYes appreciate the difference between Sandstone and...
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