Meant to summarise, but ran out of lunch time and then the...

Meant to summarise, but ran out of lunch time and then the weekend got away from me.

But what this all means:

1. Have received Petroleum Lease for both Atlas and WSGP, with environmental and regulatory approvals due mid-2018 for WSGP and mid-2019 for Atlas.

2. SXY suggest they've identified the next 40-50 wells for WSGP and 15 wells in the Cooper Basin western flank.
At circa $1m per well = $70M capex
The processing plant was acirca $50M, requiring total capex of $120M.

This strongly suggests the financing facility is around $100M - $150M, given we have surplus cash.

So basically all we are waiting (all affirmed to be due mid-2018, as at 2 May)
- gas sale agreements
- financing solution of between $100m - $150m debt facility
- environmental and regulatory approvals
- basically confirmation of timing of next phases of drilling.

(In addition we have that $50M free carry from Beach).

With the 30 wells plus the 70 odd expected to come online, it's not hard to see how transformational this next phase is into a self sustaining cash cow

This, and the fact we have 120 mmboe 2P reserves but trade at an EV of AUD$500M are the reason no one can downramp this gem.

All we need is Ian Davies to deliver what he has promised us by mid-2018.