Finder Exploration, page-34

I dont disagree with your observation from Carbarvon's perspective.

My observation was not based on Woodside or Santos having a friendly chat and a cup of tea with Carnarvon before agreeing a sales price for the Pheonix South discovery . Whilst this may occur: in Woodside or Santos position I would be looking at making a bid for the company.

I see the offshor canning basin would become a major area of focus for either of Woodside or Santos . Oil is the cream of the business. Once you have made an oil discovery in a new basin and proved the geological model, it becomes equivalent to going fishing at a trout farm. A good example being Beach on the Western flank of the Cooper basin. I seem to recall that they drilled 12 dry holes in a row before unlocking the code.

Interesting to see that Finders have appointed Miro ( principally ex Woodside guys and very experienced) .

One point no one has raised is in the event of a development at Pheonix South there would have to be consideration of what resources are at the Pheonix 1 and a tie back . I suspect more cream!