SXY 0.00% $4.60 senex energy limited

the patient will profit, but the opportunity cost may be greater...

  1. 4,691 Posts.
    lightbulb Created with Sketch. 1231
    the patient will profit, but the opportunity cost may be greater if SXY promise another 50 wells and then simply dont deliver it again.

    We really deserve to know WHY this investment has been delayed

    Someone mentioned ID was at a conference discussing policy etc. Perhaps his time that us business owners are employing him for would be better utilised at focusing on delivering the 50 wells in the WSGP that were promised by end of FY18.

    My biggest fear / risk is that the well performance from the first 30 WSGP wells is not in line with expectations.
    SXY have stated that sub-surface/ reservoir performance was good enough to upgrade reserves - which would indicate all is good.
    But SXY have deferred the next 40-50 well investment in the WSGP, and have still yet to receive financial close (they blamed this delay on Atlas, though the mid-2018 timeframe for both of this was well before after the award of Atlas). We then also had ID and EIG reduce their shareholdings, and SXY have yet to update the market with the IRR of the WSGP wells / expected well decline curves.

    WHY has there been no further drilling, given the supposed sub-surface/ reservoir performance of the WSGP wells?

    WHY does not a single shareholder or market participant know the answer to this extremely price sensitive question. To be safe, I plan to lodge a complaint with ASX pursuant to continuous disclosure. We deserve to be informed investors, in line with the protections afforded to us by the Corporations Act.
 
watchlist Created with Sketch. Add SXY (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.