As i stated last week, IMO, JH will sell the SPP on the basis of the Amadeus as a whole being de-risked or as the ann. states "new oil and gas province" so not everything hinges on JW-1. The SPP will either be a complete flop or an over subscription. If JW-1 delivers less than expected we could see an opportunity for those that are bullish LT to purchase close to the SPP price (or below?) on market heading into further drilling across the basin. The above is purely an opinion and is in no way intended to be seen as negative, simply i see the ST neither here nor there, the LT future is looking very bright.
CTP Price at posting:
52.5¢ Sentiment: None Disclosure: Held
