Bring on drilling. FID is going nowhere in a hurry so why not dig a few holes to see how much more O&G there is. I'm sure drilling can be undertaken independently of development and a good use of idle time as we spin the wheels in neutral. It could also assist in engineering design for the development of Dorado/Pavo particularly if Pavo South is the target. It could easily tie back to Pavo and Dorado. As I recall Pavo South has a COS of about 60%. Seems like a no brainer with oodles of cash on BS. At 20% interest it would only cost about US3m-US5m per hole based on previous holes.
We need to dig more holes at some stage. Why not now?
Ann: Changes to Non-Executive Directors, page-9
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