for the mighty santos to exercise 60M options would cost them...

for the mighty santos to exercise 60M options would cost them about $50M which is petty cash for those guys. They are in desperate need of gas for the Qld Gladstone LNG plant, and for just $50M they can make sure all that gas in CTP's areas goes to their LNG plant.

$50M is not an issue for santos as they are in hock for billions in their LNG plant that is experiencing CSG shortages.

They dont need to take over ctp 100% to make sure all that gas goes to Qld, they just need effective control which is board control which these options can deliver to them.