TEG Growth Opportunities, page-267

Totally agree @oiley456 , all TEG holders should want PGY to succeed. A successful project would deliver us $15m in cash and royalties.
More importantly it will remove the current CliffHead decommissioning costs budgeted at $22.6m net to TEG.

TEG can't be all things and CT has made it pretty clear that TEG's future is in O&G. Removing the CH liability had to be the main objective. The fact they achieved an additional $15m on the sale is a bonus.

By years end TEG may well have transitioned back from explorer/producer/CCS JV to a pure explorer with Perth Basin and potentially UK and Asian acreage. CT and the team have stripped out TEG's non-core assets, CCS and GAS, in preparation for L7/EP437 drills next year. (with the drilling mostly paid for by NZO and TPD/STX)