X, I own a few ORG (in preference) to STO. just my personaly...

X,

I own a few ORG (in preference) to STO. just my personaly risk / return perspective!

to answer your question - yes - I have owned this stock previously (many yrs ago), circa 4/share ......early 2000's .....

prod - assumg Narr - would add 30-40pj's p.a. .....tight gas (actually reqd imho) could replace "conv" in the CB ......

downside case - no fracc, flat OP - then prod declines domestically .....capex still reqd for CB to furfill exsisting contracts ....

this (obviously) impacts free c/flows ...

at current OP futures curve - circa 450 - 500 (my est)......obviously leveraged to OP.......oil prices runs to 70-75 : then this is a 6+stock (imho) .....

GM12 - sto have been producing "tight gas" for at least 5-6 yrs ........many many wells have been r/c in tight sst's ......

https://www.atse.org.au/Documents/Events/SA Manufacturing/nick-panagolpoulos-sa-shale-gas.pdf


STO - has already booked as reserves / resources ......prices obviously affect this (and hence my comment above) .....

http://gastoday.com.au/news/santos_and_the_cooper_basin_the_next_frontier/93322

rgds
V_H