Ann: Daydream-2 Operations Update, page-253

Additionally, of course, an increase in Grandis (ATP2044) reserves, and by association, asset value, from performing another successful drill in the form of DD3, gives our new ATP2077 (specifically Block A- closest to Grandis) further automatic enhanced value- just from correlation, as we've witnessed from Fridays announcement with the booking of contingent resource already. We'll add to contingent reserves in Block A without even having to drill.

Success at DD2 paves the way for DD3- at what cost to us is to be determined, but fingers x'd it's in our favour and excludes the ATP2077 blocks in the tie-up.

Success at DD3 then enables optimum optionality - a favoured position of NYs' for ATP2077 (if we've managed to retain 100% ownership of that ATP through ATP2044 Grandis partnership negotiations).

This COULD lead to another JV partner perhaps (maybe that's the one we let Santos in on), or maybe even us going it alone, retaining 100% asset ownership, but now with some cash up our sleeves from the JV/partnership negotiation on ATP2044 Grandis to drill appraisal wells (avoiding a CR and dilution).......heck....we even might become a producer at ATP2077 if we realise a decent liquidity exit from Grandis

A good DD2 result potentially leads to DD3 (but with some asset dilution)...but a good result there leads to all sorts of interesting potential benefits.