The unfortunate reality is that oil prices are down significantly, as are domestic and international gas prices.
Santos will be cutting back on any non business critical expenditure and especially anything with a high risk and very long time to payback even in success.
You may have noticed that Shell and BP have lowered their long term oil and gas price forecasts. Santos will be considering their long term price assumptions too which will make Dukas look less attractive in a success case.
The unfortunate reality is that oil prices are down...
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