As far as I am concerned, Santos can keep their miserly $3 mm and we go to 45% on the Dukas prospect. Very miserable compensation, especially when we have to wait for two more years to resume drilling. Dukas could be huge, especially if the 400 square km closure turns out to be correct. The only upside to this delayed drill is if management bite the bullet on EP 115 and we drill it alone. If the next Dukas drill is a huge success and STO ask to farm into EP 115, CTP should decline the offer. Now just have to stay alive for another two years or so to find out if there is any upside in holding this stock since my first buy in, in 2009.
ANZ
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