Doradao Sell Down to Fund Development, page-9

Just like "there will be no CR", do not assume that STO will proceed to sell down. The discovery of low GOR oil in Pavo, with both Pavo Sth and Apus to come, may well be a game-changer. A low GOR oil development centred on a Apus - Pavo hub would be far more economically attractive than a gassy oil development at Dorado - and less risky from an engineering point of view. It may sway STO to not only keep their current equity, but even to pick up CVN's "excess" % to make an 80/20 JV across the Bedout. Watch for STO to await the outcome of Apus and P-Sth before hearing anything more. Interesting times....
mutineer