As a publicly listed company Woodside will have to release the results of it's Ananke-1 drilling to the market.......
Further, they have already shared costs on shooting the extensive Foxhound Multi Client 3D seismics over both Ananke-1 and the Maxwell Prospect and surrounding areas!
If Ananke-1 is gas bearing it will have a significant impact on MEO's desire to progress the drilling of the Maxwell prospect. "Initial evaluation has supported the connection of the Maxwell prospect to the north and its extension southwest in the adjacent permit to the Wheatstone Field. Full depth correction of the seismic over Maxwell combined with the results of the Ananke-1 well (to be drilled shortly by the WA-269-P JV in the adjacent permit) will be critical in advancing Maxwell to drillable status."
And you just never know if Ananke-1 and Maxwell Prospect both hit commercial gas bearing zones, Woodside might just be interested in purchasing MEO's gas IMO!
MEO Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held