Hey monsters. Agree STO seem very positive on PEL 570. this is...

Hey monsters.

Agree STO seem very positive on PEL 570. this is the slide I assume your talking about?



DLS knows better than anyone how prospective PEL 570 the ckeeky buggers have 3D seismic over the best bits already. I wonder if they are sharing with STO...

As for the drill bit. DLS hints in this excellent presentation that it could be early FY16 (just a couple of months away).

UGAS2015 Conference Presentation

DLS has a $42.5 million free carry via STO and NSE in PEL 570, so heaps of exploration etc to be done before they pay a cent.

The market seems to be ignoring the $42.5 carry from STO in PEL570, the aprox $40-70 left in PEL 513 J/V with STO and the $15-25mil with BPT in APT924.

Heaps of exploration to come, and all the while PEL 91 is spitting out cash.

slightly off topic, but I hope Brad & the team lock in some more hedging if the POO goes over U.S $70 in Brent.