Ann: Trading Halt, page-96

you'd think right?.....that's what a savvy player like you would do....but nah...they'll wait till we've exposed the potential and started to convert contingent to derisked probable and proven.

And then they'll pay accordingly- albeit a much higher price than they could have earlier on.

That's how the big boys operate.....their risk appetite upfront is minimal, after all, at some future point they'll be sinking truck loads of cash into Grandis digging he heck out of it. What was it Neil said recently- Shell apparently spending $100million on 3 horizontal wells?....you'd only be burning that money if you were pretty sure it was worth it- ala derisked as much as poss.

And remember- they're pretty much looking over our shoulder anyway with the "data agreement".
Whilst they're watching us unveil what we have, and by association increase our asset value, the cost of ownership (partnering for a % or outright acquisition) increases....right in front of their eyes, in real time.

But that's also to our advantage, we raise $10mill now or whatever it is, and another 100mill shares on issue to get us to 1.15 billion or whatever, and maybe the sp drops intermittently to 8c or so (maybe) and we all wet the bed a bit.......but what transpires is that Santos - by NOT taking a position now, ends up paying more in the end, one way or another....and us flogs all benefit.