I thought the above extract was appropriate, because here is the CEO of Senex giving further views that domestic gas pricing will be up to about $10 gj - and thats at the Wullumbilla gas hub in Qld. Then he says transport costs will be another $1 - $2 gj to get the gas to Southern states.
He is also saying that LNG import pricing will still see domestic gas pricing around the $10 gj.
So that seems to be indicating that COE sales may achieve far higher margins than we are thinking?
Whilst we have not been told what COE contracted its Sole gas under the base contracts, I reckon it was way, way less than $10 gj. Because COE HAD to execute definitive GSA's for enough gas sales in order to achieve FID, and to access adequate funding (and on reasonable terms). So I reckon COE may have forgone some pricing in order to achieve certainty. A sensible approach imho.
So therefore the Uncontracted gas from Sole is looking to be very profitable imho.
Also makes the Manta and Henry wells look good.
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