Yes, but the footnote to that is "Pancontinental notes that Woodside does have the ability to exercise its option at any time prior to the long stop date".
"Early interpretation work has identified a variety of Cretaceous hydrocarbon play concepts, from mid-Early Cretaceous (Barremian) channelised fan sands to early-Late Cretaceous (Cenomanian) channels and erosional remnants". In other words, PEL 87 play concepts identified are consistent with characteristics of the other most prolific Orange Basin discoveries of Mopane, Venus and Jonker.
Also, "leads have been identified within the Saturn turbidite complex, although prospectivity is not confined to Saturn alone". Looking good so far.
Ann: Quarterly Activities Report, page-3
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