And interestingly, Falcon have to commit to the first well per DSU to lock-in their percentage interest for that DSU. Financing pressure. Larger DSUs are good for us in many ways.
Reckon Falcon will have to dilute down each time to retain a small interest, especially early on. Perhaps not later when the commercial scale is fully proven if they can raise the funds or someone big takes them out. Sheffield will probably go hard on putting a well in each large DSU to ensure that Falcon can’t keep up.
Texas Hold’em.
Beetaloo or bust: the route to commercial success for an Australian shale play, page-50
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