Another year for any drilling is correct - this is the same schedule as late 2021 re Dukas.
But now Central have a free carry for there're share up to $20m gross for 2 of the drills, with success unlocking value for CTP.
I expect the NT Government will want to approve the new JV arrangement pretty quickly - and maybe before the AGES conference in early April.
With permit ownership and costs sorted out, then sourcing the rig can move forward.
I would not be surprised if a single high capacity rig is used for all 3 drills, with Dukas left to the last drill, since that has the high pressure.
Drilling the 2 smaller prospects 1st will enable any problems with the rig being sorted out [with PEAK paying 1st $20m] before tackling Dukas, where CTP have to pay their own costs. Dukas 1 had equipment issues, causing delays, which Santos bore the cost of.
Using a high capacity rig on the 2 smaller prospects may seem overkill, but it will save a lot of costs by not mobilizing 2 drilling rigs.
Besides, a high capacity rig should be able to drill the 2 smaller prospects quicker than otherwise, thus saving time.
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