Nothing would bring me more pleasure than for COI to get production up and running from Mahalo North which by default/design means that gas from the Mahalo Main Block bleeds across the fairway into Mahalo North for COI's 100% benefit. At that time - Santos's 42.86% of the gas in the Mahalo Main Block is slowly being diminished.
The longer gas is produced from Mahalo North - the more the reserves reduce in the Mahalo Main Block as both are on the same fairway.
Santos know this and they will be watching closely to see whether they believe that COI has the capability and funding option to bring Mahalo North to production.
If all the 'ducks line up' and the financial hurdles are overcome with the Mahalo North production timeline 'set in stone' - it's decision time for Santos as we will have forced their hand.
A game of poke - I wonder who will blink first?
Good luck all...
COI Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
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