Santos Ann., page-6

Although you may be right Ravi, let's not jump to (negative) conclusions. Not sure what obligations or commitments Santos have with CTP under their current commercial arrangements.

Last week's Quarterly Activities Report specifically noted that "The company has sought regulatory permission and CLC clearance for a potential drilling of Palm Valley Deep (OL3) in the middle of the year..."
You would assume that Santos would have let their partners know prior to their announcement on exploration cut-backs, hence CTP would not have included it in their announcement the day before.

Santos' cutbacks would appear to make sense, especially if without the NEGI they can't get any major gas discoveries to their GLNG plant in the short term anyhow (understand this is where they have the potential shortage, rather than Bayu Undan). Would be worthwhile CTP clarifying if indeed there has been changes which impact us...