KG said it was a Disciplined Approach towards Dorado, don't think they'll b rushing to sell-down equity by the looks of it. What's changed?
Concept wise they are now looking at an Integrated Oil & Gas Project. Gas which was supposed to b developed as Phase-2 could move fwd alongwith Oil, KG said earlier this morning. There is a significant amount of gas in the Carnarvon Basin that they may flow to their existing facility at Varanus Island. There's still a bit of Engineering work being done on this.
Also mentioned the inflationary costs r starting to hurt with 1 of the key contractors selected filing for Chapter-11. (ie FPSO provider Altera filed for chptr-11 this earlier this week). Hence the delay, not to mention the Regulator taking their time with the Approval process.
For CVN there's enough cash in the bank, apprx A$112mil to fund Pavo-2 & the biodiesel project etc. Fluid compo needs to b worked out across this field.
Worth listening to Santos HY-22 webcast, 3 Analysts questioned about Dorado from the 37.51 minute mark.
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