re: STU/BPT/COE This not a Ramp if it's 37 million barrells, we...

re: STU/BPT/COE This not a Ramp if it's 37 million barrells, we are on a winner, that's a lot of $$$.

The Cooper basin has a lot of infrastructure in place due to the 30 odd years Santos has been there.

There are pipelines, satellites, reasonable roads etc all in place. A real eye opener if you haven't been there, so unloading the oil into existing pipelines or by road is not an issue. Be a few beers on the house at the Innamincka pub tonight I'd say.

This find is very significant due to the fact it is the first well drilled since the mid 70's besides Santos or Delhi.

Santos has had 10's of thousands of km's tied up til 1999 when their lease ran out.

Stuart have taken 2 years to get to this first well and they have hit the right spot. This could be a company maker or at least give them $$$ to explore further.

Stuart,Beach and Cooper all have wells planned over the next 2 years and you will find a string of them happening over the next 3 months.

Beach and Cooper will spud the next well towards the end of the month. Then Stuart and Cooper plan another well soon after.

All in all, this is Stuarts first well after listing 2-3 yrs ago and they have come up trumps.

The Cooper Basin is one of the easiest places in the world to aquire seismic and the well success rate is very good.

Stuart, from memory, also boast a former Santos exploration manager.

You aint heard the last of STU/BPT/COE.

COE is a good play for the next well due to spud in the next 2-3 weeks but it is in a different area. COE 25%, BPT 75%.

I believe the market is not welcoming BPT's 1 for 7 consolidation atm and don't expect great things price wise til this is sorted.

All these oilers do come with some risk.