Ann: Paralana Joint Venture Project Update , page-7

Good post EL.

Given that the JV partners have a fixed spend on this well and Petra pays the over run I'm not too sure how it will effect their decision to proceed to the HEWI stage as again their costs will be fixed. Thus the only variables they would need to consider regarding whether or not the project is economic is if the drill data satisfies the key economic assumptions outlined.

Is it your concern that expensive wells will scare them away from the project or am I missing something?

I think the impact from this well will be purely on Petras balance sheet but interested in your views