Hendrous, I know for a fact that Senex moved their focus to the Cooper not only for the low cost oil prospects uncovered by 3D seismic, but also they were increasingly aware that the anticipated Queensland CSG volumes would not materialise.
In my view Cooper gas will feed both the LNG plants and the NSW domestic market. Whether it can do so in time remains to be seen.
WCL is sitting in a very strategic position. Not only due to its location but because it has proven production and reliable infrastructure. Why people are selling is beyond me.
WCL Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
