Excellent news for LT Cue holders, with WPL funding 100% drilling costs + paying back US$5mil in cash to CUE for Caterina.
WPL drilled a duster at Hine-1 in the PLuto field & had mechanical issues with their Maersk Discoverer semi-sub, which could only drill 2 top hole sections in 2 new wells.
Need a timeframe on spudding. CUE's qtrly said 2011, however WPL could bring it fwd since they have plenty of rigs & are waiting on a super-rig to arrive next year.
Ann: Woodside Farms into WA-389-P , page-2
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