80k barrels in january pre cleansweep , page-11

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Yes, that was noteworthy that the fuel business was not included in Peters analysis.

Phase 1 is expected to cost $45mil assuming no cost blowouts.

Uncertainty about the economics of that project probably put some people off STU.

Anyway, Bazzard should be drilled before STU can do too much damage to the balance sheet with the fuel project so if you're in a for besbs play ......

Just a note about funding for Bazzard (and I've checked this with Tino)
STU will fund it from CB cashflow but that could include future cashflow whereby STU drawdown on their CBA debt facility which has limits set against their proven reserves.

Btw, I'm still bullish on STU going into Bazzard but reckon there's plenty of time to accumulate.