Well, I believe that is a very good outcome for Karoon and ourselves.
It's clearly a firesale price, no reflection on the value of the field.
As stated in the announcement, Karoon will now seek to farm out a ( IMO larger more attractive) percentage of the field. For all we know, they may already be in discussions.
For what its worth, the talk of Echidna/Kangaroo not being viable is an unknown. A lot has changed since numbers were originally announced. I believe Karoon will have done a lot of work on reducing the costs of production. I am hoping we will have an update on those costs at the AGM and I don't believe Karoon would be going ahead if the numbers were not looking like stacking up.
Ann: Karoon Acquires Pacific's Interest in Santos Basin Blocks,STO-KAR.AX, page-17
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