Whilst many have expressed a glimmer of hope at getting rid of the BG JV the urgency may in fact be due to BG turning the heat up on JH and demanding accelerated drilling of CSG wells back to back with phase one.
An additional 10 to 15 csg wells to prove up 2p resources and get a couple of pre production wells up and running for asessment would certainly be streaching CTP finances but would be too good to turn down atm as this would accelerate monitisation of those resources. Of course this would be keeping BG happy.
The above would only be feasible if the Gas results from the wells drilled so far were deemed reasonable by BG. It would also be giving BG some sense of control over the direction CTP is taking. BG Aust would be able to announce vast expansion of its CSG resources for very little $ up front.
Whatever the reason I agree JH is no fool and it will be in best interest of CTP long term
there may be more to it?, page-24
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