Need the gas price to stay above $7/GJ for breakeven for the
Stage 2, 20TJ/d, project.
They mention scope for further improvement at the next 6 wells phase 2 stage 1 but at this stage it is unknown.
So that could be where the improvement needs to be focused.
What could be the hidden variable is do they step up with phase2 and go for more fracs(stimulation) I see maybe 5 or 6 a possibility and therefore larger mmcfd , all in the hands of the completion/stimulation engineers, will wait and see.
Not investment advice, do your own research and consult a licensed adviser.
RLE Price at posting:
9.3¢ Sentiment: Buy Disclosure: Held