As operator via its subsidiary, what is the business case for proving up the gas reserves, let alone pursuing an expansive drill program.
At some point in the future, if no further activity is undertaken, this week's 6c offer could look quite attractive.
Just have to look at Carnarvon's predicament re. their operator Santos on the Northwest Shelf, to realise there's pretty well bugger all the junior partner can control. Carnarvon shareholders have been asked to sit on their hands for 6 years until anything like production gets underway.
NWE Price at posting:
5.9¢ Sentiment: Hold Disclosure: Held
