suzywong, great analysis.I am sure that the colleagues from...

suzywong, great analysis.
I am sure that the colleagues from Woodside discussed the possible options like you exposited. The combination of the needed high capex for high risk exploration drilling, developement and that Woodside is becoming a more woke gas, LNG company (after the Saturn farmin and after shooting the 3D seismik there), Woodside decided not to bet on Saturn. I wonder what Exxon is thinking/planning when they decided to extend the other project with Woodside.

I think this is a big chance for PCL. PCL got a brand new 35 million $3D seismic for free. (well done PCL management on this point with the dead line 18th of May 2025) The cards are shuffled once more, but with the 3D seismic, we have much better chances for the next poker play = farm out round. PCL could ask for example for some prepaid cash from the interested parties for the 3D seismic, for example, to keep the company going. I hope the PCL management teams have learned some important lessons from this historical Woodside deal and now follow an improved strategy to optimize the value/price of PCL. I hope some majors and some big state owned oil companies are still hungry enough for the Orange Basin and I hope the well connected Mr Knowledge Kati from Sintana helps and supports PCL as a Saturn Team.
Sombody mentioned Kosmos Energy here. I think this could be another interesting option with an aggressive player as Kosmos as well, as long as Kosmos could organize the billons of dollars ( done with money from investment banks by Mr. Jim Musselman from Texas when Kosmos were a exploration start up more than 15 years ago)