Completely agree, SL - this thread should be tracked in its own right...
I previously posted that the drilling of PEL 105 was (at least for my money) the most exciting news in the last operational update and, as others have since noted, despite AKK's "only 50%" interest, this thing could end up dwarfing the US projects, thereby reducing them to very valuable but nonetheless secondary-interest cash-cows, particularly if the price of US oil is driven down by domestic over-supply and local under-demand, perhaps eventually forcing US producers to export and compete on the international oil market (which could provide new challenges for the smaller players).
The Cooper basin is RC's old stomping ground from his early Santos days where he personally negotiated several farm-ins, farm-outs and JVs. As a young corporate lawyer with Santos, he developed a template JV agreement which became a blueprint for JV agreements in the region, as well as personally negotiating arrangements with local landowners. So he would have maintained his interest in this area, retained some residual "pasture cred" with those who remember dealing with him back in those early days, not to mention a fair bit of emotional investment.
Just based on sentimental value alone, I'm sure he'd absolutely love for AKK to hit the commercial jackpot in this particular part of the world...so stay tuned, folks and be sure to watch this space.
AKK Price at posting:
3.0¢ Sentiment: LT Buy Disclosure: Held
