Beehive outcome

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.