"Yes it's never been a particularly productive field, the red-headed step-child of the Qld CSG industry, passed around between various unwilling relatives."
what the heck does that mean? not very complimentary to red heads!?
if you sit back and wait until you see delivery of flow rates, then I reckon you will have missed the game. it's risk/reward scenario.
and yes, it is all about well flow rates. always was - always will be.
we don't know the gas price under the GSA - but we DO know its at least double the current price, and we have been constantly referred back to the AFR article.( in which MH referred to current market prices of $9/gj)
I recall JB said at 12tj/d, at CURRENT prices of $3.20/gj, the field was at break-even. So at double the price/gj, we will be in overall profit.
psi- mate I hope you get on board, because I would love to see you drive past in your shiny new red Ferrari! LOL (with number plate "Iluvwcl")
cheers
WCL Price at posting:
28.5¢ Sentiment: LT Buy Disclosure: Held
