CTP increases its share of Dukas to 45% iff Santos does not...

CTP increases its share of Dukas to 45% iff Santos does not elect, by 31 July, to carry CTP for $3m of the drill cost:

• Prior to 31 July 2021 Santos can elect that Central be carried for the first $3 million of its well costs. In return for a carry by Santos and if Santos so elects, Central will transfer 30% equity in EP82 (excluding the Orange prospect) to equalise JV permit interests with Santos in the region;
• Should Santos not carry Central in exchange for the option to have 30% equity in EP82, their interest in EP112 (with the Dukas‐1 well) will decrease from 70% to 55% (Central interest increases from 30% to 45%)

https://hotcopper.com.au/threads/ann-dukas-forward-plan.5505855/

Taking 45% would be a great risk / reward proposition for CTP, given the last estimate on drilling costs was around A$10m.