please read the extract below in response to your point 1 in your post. You may want to check your facts first...Hopefully you are not a Sophist.
“MEO has sought to farm out a 50 per cent stake in its permit in return for the recovery of $US8 million of costs to date and the funding of its share of a $US30 million exploration well and two more appraisal wells if gas is struck at the first well.
That is the minimum ask in the sales process being run in-house by MEO with help from some outside legal advisers, but it may take more to win the race in light of the hot competition to date.
The data room closes on August 14, with 12 big oil companies already having passed through. The winner will be chosen by the end of next month. MEO would presumably prefer to commercialise the gas as soon as possible.
But the first well is not expected to be completed until October next year, which would be later than Woodside would prefer if it was to provide gas for a second train at Pluto.
Nevertheless, Goldman Sachs JBWere said the MEO farm-in would provide "an attractive risk/reward opportunity" for Woodside.
