Apache to walk in less than one week?

Subject to not being granted an extension, Apache need to sign up to ac/p50 and/or ac/p51 in less than a week.

Apache is, IMO, likely to walk given they appear to be selling the wa farm.

this bad news will present a buying opportunity if you assume eni will opt in for Blackwood and/or heron. Eni has certainly strung out the heron option that is for sure. Long time to say no but eni were never going, IMO, to sign up to anything until post the Evans shoal result. We now know that ES has 8 plus tcf of 30% co2 gas. Only a month to go before we find out the eni strategy....

Bringing UBS into the ts picture does not bode well for zammit as he obviously could not pull the deal off and the board has gone to UBS to see if some form of deal can be done. Eni,IMO, holds the aces and meo may only, it at all at this early stage, only receive a cash offer from eni for ts...

IMO, Expect meo to still acquire a producing asset by the end of this year aimed generating cash flow.

IMO, Expect a multiple Jv partnership for beehive unless a major steps up post Phoenix success.

Breakwater, even if farmed down presents a significant solvency risk if you look at tpt or far....

other that hat all pretty good.
adl