Senex will pay nothing and BPT pays $43m on oil...

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g12m0

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05/05/18

21:31

Post #: 32909131
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Originally posted by tt2000 ↑

That's why I tend to follow the money (though I was already set in this and in the accummulation phase when EIG joined).

I've been waiting for May so that I can say by next month so many stars will align for SXY
- Funding of $150M
- Details of drilling campaign (how we will spend the $150M)
- Processing plant update - partner v do ourself
- Gas sales agreements
- Petroleum lease for Atlas
- Sale of non-core assets
- $43M spend by Beach (in addition to the $150M above)
- Further increase in gas production from 30 WSGP wells in line with typical curve which increases in the first year
- Reserve upgrades (Atlas)
- News as to whether SXY won any additional leases that they tendered

SXY have stated that they are targeting mid-year for each of the above (apart from the last point).

Today was the first of many ducks to go. With the always improving oil price, and a potential takeover based on "cheap" reserves, the stars couldn't be more perfectly aligned.

I expect a price rise as each of the above milestones are hit - I feel it is going to be a great 2 months to be an owner in this.

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Senex will pay nothing and BPT pays $43m on oil exploration/development. SXY saves 60% of $43m. That is the new deal on the $43m free carry BPT inherited from the Lattice purchase.

SXY Price at posting: 42.0¢ Sentiment: None Disclosure: Not Held
3 Upvote

0 Great analysis

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Senex will pay nothing and BPT pays $43m on oil...

Top Stories

US election outcomes: Key economic and market takeaways

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Power gets set for 1000-metre maiden drilling program in Brazil

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To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

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