Don't think there would be a TO until reserves are proven and known - what we do know is that there is a S___ Load of oil down there in Xanadu - how much will reflect what price for a TO - would be mad to sellout before hand. That's IF a TO ever takes place? A nice problem to have going forward - but I think GAS would be subject to a TO before TEG - and what would they do with the money? Help develop Xanadu and drill more holes in what is shaping up as Australia's most exciting ever oil region.
Patience will pay... TEG will go up in upcoming months!, page-8
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