Just quietly whilst we are still waiting for our outlook for...

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tt2000

4,740 Posts.

1235

18/10/18

22:27

Post #: 36179787
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Originally posted by rollacoaster ↑

Agree with a few of the facts although:
Fact two - we have no idea how far advanced GSA's for Atlas are, they could be nearly ready to sign off. Who knows who they are negotiating with and if that customer does MOU's etc etc
Fact 3 - drilling commenced early July so maybe a week or three 'late', the BPT carry agreement change (a good thing ID likely drove) likely caused this
Fact 4 - Vanessa gas is contracted to Pelican Point Gas Power Plant and started selling in FY18
Fact 5 - Decision on path to market was achieved on time

A few things in ID's favour:
Atlas gained under his tenure,
Got through oil price crash with no hiccups,
Strong Balance Sheet maintained despite oil crash,
Gemba exploration well could be a game changer,
BPT free carry agreement,
Purchase of Planet Gas's tenements at a bargain basement price - now have full tenure/equity/control,
Jemena deal,
gained two multimillion $ grants from SA gov

The delay on WSG is the only real issue, not much else has gone wrong. Senex has always been a lower risk oil and gas play, lower risks generally generate lower returns.

Also I am yet to see proof that the board is not the one holding up WSG as opposed to ID. Just saying that your frustration, while justified, may be misdirected.

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Just quietly whilst we are still waiting for our outlook for FY19, Cooper have released their outlook plus 2 monthly updates on how things are progressing - 74% complete on their project (which was planned well after SXY).

At least we'll be updated about the progress of SXY's office relocation project soon I suppose - too bad the new office will probably cost shareholders more. I guess our cash may as well be used to fund that (dare not be used to drill any wells)

SXY Price at posting: 49.0¢ Sentiment: Hold Disclosure: Held
5 Upvote

0 Great analysis

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