I am a MAY holder but not an MEL holder. I have no idea what the rational behind putting these companies together is but expect in time to hear a case for the reasons from MAY's management. I can't see a good reason ATM and need to be convinced that it should go ahead. However, I need to clear up one misconception about the 3D seismic on the Beehive prospect. This was completed and accepted by the Farminees, Total & Santos, on 3 April and they have to decide by 2 October whether either or both will take up the option to drill and pay for the well. I think it is very likely that at least STO will decide to proceed with the well.
ANZ
MEL Price at posting:
3.3¢ Sentiment: None Disclosure: Not Held
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