About the fifth SXY well to be drilled as part of its unconventional program is called 'painter' (not sure of the spelling). This, in SXY's view has the most potential of all its wells. It is right next to AQO lease and has the same geomorphology. Its special because they will be drilling into shale surrounded by coal.
They know there is heaps of gas there. Its just a matter using/getting the right technology to trigger its release at commecercial volumes.
Still the same scenario for the majors. Buy AQO now cheaper, or later when risk is less (after painter).
I am betting that AQO will be taken out before painter. Too cheap now.
breaking out, page-19
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