Read the announcement now. Targetting 1.5mmb OIP in the Murta, McKinlay and Hutton formations.
Expected to reach first target four days from spud (that's monday's drilling report) and total depth in 10 days.
BPT have farmed in to 33.3% but it very carefully fails to mention what % of the drill costs they are paying. Current Cooper averages are about 2.2x (Ian Whitchurch could probably confirm this for me) but I understand that STU have been very tough with their farmout negotiations - asking as much as 3x if you want to play in their patch.
If they got that from BPT then this well would be 66.7% interest to STU with $0 drilling and completion costs. I hope that's what they got anyway.
Oh, and to you idiot (SB2000) - do you know what eom means. If not then shut up and go away - if so then shut up and go away.
Cheers
Badfish
STU Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
