Because they only just announced they were drilling PEP11
It is gas not oil
And the gas price in the east is at large premiums to the rest of Australia
Think from last check the pay around 40% higher for their energy
If this was a tiny oil well way out to sea I wouldn't be interested
But this is P50 for 4.7TCF gas targets very close to a large industrial area that is quite literally begging for gas
Advent wouldn't not a chance of developing this.
If they were able to flare gas there the company woule be bought out. You are talking potentially $Billions worth of gas there.
Because they only just announced they were drilling PEP11It is...
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