Raider Something to think about....

Raider

Something to think about.

http://www.openbriefing.com/OB/1650.aspx

Refer to the sector analysts Q&A at the end of David Maxwell’s briefing:

Key points

• Sole – developed by one vertical crestal well – 700m subsea high perm Gurnard fm
• Pipeline 65km
• Cost of development - $600m – 70% offshore and 30% Onslow GP upgrade onshore
• COE owns 50% of GP immediately – but owns 50% of Sle by way of earnin – first $50m – ie paying all of FEED gross $25m to $29m and next $$21m to $25m (post-FID costs) then heads-up with STO
• COE doesn’t own any revenue from Nexus/Longtom – all to STO account
• Sole will produc gas at 70 TJ/d – GP rated at moment at 90 TJ/d (40 PJpa)  – plant can be doubled to in stages to 80 PJ/a with extra gas – B-M-G or other 3rd party gas
• Project will start end of 2018 – then B-M-G will tie back to the Sole Hub 18 months later (self funding??)

Implies that the new B-M-G development gas pipeline will cross Permit Vic/P41 (OBL net 35.4%) to tie into the Sole Hub – so implies that OBL’s Vic/P41 (gross 1Tcf P50)  is crucial for massive gas production expansion