Ann: 2015 Full-Year Report, page-13

A joint venture partner may have an ulterior motive. Like offering to buy out the joint venture partner at a later date. BPT estimates of PEL106b 2p reserves is a lot less than Drillsearch 2P reserves.
BPT and Drillsearch also are not in agreement in their interpretation on the size of Bauer. And look at Santos. Santos have not made an effort to describe the potential size of PEL513 in view of wet gas discoveries in PEL513.
I just thought it is strange the way operators of JV go about selecting drilling targets. In bauer, why has bpt not yet determined the extent of Bauer?