how will positive news be announced?, page-33

SoAF, sorry but must say I respectfully disagree. I would question an expectation that WPL will be involved in any deal, although not dismiss it. CUE's flat refusal to sign the LNG agreement and subsequently CUE's farm-out of Caterina to Woodside suggests to me that this is certainly not PBR's anticipated outcome.

PBR's insistence to sign off the LNG agreement as part of the farm-in agreement suggests far more strongly their intention to take the route of developing an independant LNG facility, should sufficient gas be available. Of course a smaller discovery would make that unviable, and in that case your scenario would come into play. Only my opinion.