east coast gas and the santos gsa, page-4

To do it properly and efficiently (having the rig mobilised so use it for multiple wells) - $100m for 1 workover and 3 wells including an exploration well at Hussar would be close to the mark.
Even a CR is not dilutive as long as the shareholders have the chance and financial capacity to join in.
The real risk to us is that they say something like you guys can't participate but we have a cornerstone investor like SEven group who want 40pct of NXS at 8c and we will benefit from their backing and commitment Yada yada yada. Not saying it is going to happen but I am very mindful of the possibility.and it has happened before.
Fact of the matter is they only have 1 choice and that is to sell Crux now or in stages, no other option is palatable. LT in its current capacity is not worth greatly more than book value with a $100m spend on the horizon, external CR is dilutive and even a 1 for 2 would only raise $50m which is nothing in the scheme of things. Even if they sold LT for $200m, the effect is they have no cash flow, admittedly debt and Sedco free but a potential $1.5B spend to develop crux in the future, back to square 1.
Hugely positive on the value within NXS which needs to be realised, I get the impression that a Woodside culture is overthinking and overplaying their hand??????