@trousergecko
You are in line with my thinking 100%!
Very surprised Beach didn't take on this permit, let alone partner up with Noel? From their latest Presentation, Macquarie Aust. 4/05/22, they are heavily investing and focused on Otway Basin growth and proceptivity.
The notation #1., page 15 reads as follows:
1. 100% success rate when Otway Basin structures have been drilled with seismic amplitude support on Beach-operated acreage (16 wells drilled, including three in FY21)
and includes the La Bella, Geographe and Thylacine - all along trend, my interpretation, of Vanguard and our other known prospects.
We'll have Beach drilling La Bella, all going to plan, by FY2024, so we'll hopefully be in a position to drill Vanguard by then, along with Flanagan in VIC/49P. Now that would be game changing!!!!
1. On Conoco it came to my mind that this was a well advanced strategy and on a successful Permit award the partnership between these two would be moved to the next stage.
2. This, I agree, would have been based on the invaluable information available from Beach, as outlined above, and I'm also very hopeful from the 3D early results.
3. Should that be the case then we should expect further announcements on a planned well for VIC?P49 with this H2 2022 and a possible well in 2023
4. Could Conoco simply buy Beach's Otway business to consolidate their Australian asset base and start over here again?
5. What is West of the current known prospects is the next big question...?
This play has been well executed and I feel we now have two solid partnerships, beyond Hibiscus, that are enough to move 3D Oil to a producer in the next few years!
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