With Santos having made large acquisitions with Quadrant...

With Santos having made large acquisitions with Quadrant Energy's assets in November 2018 (which includes the large Dorado discovery asset) for about $2 billion USD and more recently Conoco Phillips Northern Australian assets for $1.4 billion AUD, Santos priorities are unlikely to give Dukas a high focus in the near term and they will be flat out getting on top of their new assets. We are comparatively small beer to Santos and they will be unlikely to be in a hurry to proceed. IMO, the Dukas drill has already taken a long enough to come about since they first farmed in. I would prefer to see the farmin terminated if possible and look for a more aggressive farminee. Maybe BPT might be a better fit!

ANZ