Phase 3 of WSGP is suggested as 50 new wells which is meant to get gas production to over 16 TJ/day
(~1 mmboe per annum) by 2019.
That's NOT aggressive enough IMO , that's why I hope its the full $300m USD proposed by EIG.
Allowing Senex to aggressive move WSGP forward AND at the same time get cracking on Atlas.
As 16TJ = 1m BOE is just NOT juicy enough to capitalise on the East Coast Gas Shortage.
Get cracking Senex !!! Lets hope the Debt Funding amount is the Full $300m USD and not $50m.
As per the morgans research, once funding solution is behind us, this should take the hand brake off the SP and we can run up to my 52c target quickly.
SXY Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held