It is amazing what you can find out if you ask a few simple questions. 1. Rain in the Cooper Basin slowed down the Harpoona drilling, but has also disrupted production/delivery from BPT/COE fields at Christies and Sellicks. Acrasia and Worrior have not been effected. 2.The Derrilyn discovery is only 5kms from Limestone Ridge(?) and there is a high probability of a pipeline being put in ,rather than trucking. 3.The Reg Sprigg West discovery highlights STO competence(or lack of it ) when it comes to testing. The rumour is that there are five zones capable of production-the best is the Tichoo which will not be tested at all, the DST from the bottom was a technical ballsup as was the Birkhead. Prognosis is that they will probably forget about further DSTs after number 3, and assess the hole frm the production string in 6 weeks time-then use logs/pressure data/seismic interp for a reserve estimate. Current punting is 800 bbls a day to match the capacity for two trucks-ie around 150bbls a day to STU. We may find out from STOs Friday report-then again we may have to wait a while. In the meantime, Harpoona hits the zone of interest over the weekend-for the sake of STU/BPT stakeholders lets hope it is a wet one. Cheers,TAS
STU Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
