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0.00% 5.2¢ central petroleum limited

quickstart prospects, page-3

  1. psi81
    6,317 Posts.
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    01/06/14
    01:15
    Post #: 13443373
    Even if Santos don't want to drill Waterhouse, JVs are normally structured so that one party can sole-risk a well if they so desire.

    So if Waterhouse really is a good prospect with a decent COS, CTP could approach Santos and say "we would like to drill this prospect." If Santos aren't interested, CTP should be able to drill it themselves for a 100% interest. If it's a success, Santos would have to pay a big premium to buy back in to the discovery.
    CTP Price at posting: 38.5¢ Sentiment: None Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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