8 Trading days until Beehive drill / drop extension expiry. 8 possible outcomes that I can see.
1/ Total / Santos keep 40% equity and both commit to drill , Santos as Operator 2/ Total / Santos keep 40% equity and both commit to drill , Total as Operator 3/ Total lowers equity but remains partner , Santos increases , Santos as Operator 4/ Santos lowers equity but remains partner , Total increases , Total as Operator. 5/ Total drops out, Santos commits as operator but wishes to look for potential new partner ( Inpex , ENI ? ) 6/ Santos drops out, Total commits as operator but wishes to look for potential new partner (Inpex , ENI ? ) 7/ Total / Santos both drop out , 100% back to MAY, back to new partnering discussions ( Inpex ,ENI ? ) 8/ Further extension requested.
I think at least 6 scenarios are strong contenders. If however, I was to pick one, I will go completely curveball and go with 2 , I think Total are looking for a statement in this area , IMO..... I think least likely is 8 again IMO.
MAY Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
