Think its suffice to say STX would have gone to the wall under the downward pressure on.MC exerted by Jaws and were fortune to be offered operatorship on EP469 by WGO.Pre sold gas to Westfarmers to raise funds to drill WE2 and SP was around 6c and yet another CR would have been a disaster for shareholders.
I see the JV was a saviour for both companies and the success of drilling results on EP469 equally attributed l to both companies.
Ann: STX: West Erregulla Update, page-65
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