Interesting to hear they are going to take the option and drill deeper to test the Permian carbonates.
STO was a player in Beehive prospect which is, as I understand below carbonate build up. According to a recently viewed webinar a big American Co have bought the permit (from ASX jnr) with the view of testing Beehive. Apparently this type of structure hasn't been tested in Australia to date. It had been indicated when they work they work big hence a big us companies entry into Australia.
If what I'm understanding is actually correct it may open up a whole new blue sky potential across our JV permits.
Disclaimer, I have no geological understanding. Just connecting some possible dots for possible discussion points.
Ann: Pavo-1 Drilling Update, page-16
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