Although not a holder, I for one wouldn't be disappointed to see Billiton exit. In fact it may turn me into a buyer.
With a good cash balance, OEL could drill in SC-55 off their own bat. While not generally done for risk mitigation purposes in the junior sector, if they are so confident in the acreage I say why not?
The sun is shining in terms of oil price. Why not take a punt?
Confirimg drilling whether a farm-in partner is there or not will also likely increase the liklihood of a farm-in partner being flushed out and improve the commercial terms of any farm-in.
I'd much rather see this than looking to spend the cash trying to find a new basin, M&A activity etc.
OK?
OK
billiton exiting may be a good thing
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