"What if all Peregrino production is contracted .? Then it would be up to the purchaser to meet any sulphur limitations. Its not like it is an unknown quantity at this point in time.
What if they buy both fields??"
Theres a difference between contracted and contracted with pricing backed in. They may be able to lock in contracts through off take but if the overall price of heavy oil becomes more discounted only hedging with protect them against price declines.
Do you think they could afford both fields. I guess it depends on if they are bidding with another party, for example, bid with someone for the full 40% of Perregrino and Karoon end up with 15-20%. Would bring development costs for Stage 2 significantly down.
Ann: Withdrawal of AGM Resolutions 5 and 6, page-31
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