Companies usually farm out to other interests for cash flow reasons or because they want another someone else to do the hard work while still retaining a punting interest. I can see CTP selling down for money but not Santos. What they would get for their percentage of an unproven and undeveloped prospect wouldn't compare to the rounding figure on their spreadsheet. They obviously have no interest in progressing Dukas themselves at the moment so a sales pitch from Peak must have pricked their ears. I can just see the Santos management saying give them a stake and let them do the hard yards and if it all works out we can swoop on CTP at our leisure to claim back a controlling interest.
CTP Price at posting:
14.0¢ Sentiment: Hold Disclosure: Held
