Agree,Someone is offloading chunks but mr market is happy to...

Agree,
Someone is offloading chunks but mr market is happy to soak.
I am sure there are countless possibilities as to why.
One possibility, deep pockets sometimes use line of credit in anticipation of news. When stories take longer than expected, investors must short to repay borrowings.

Have a look at BGL recent and chronic anns relating to change in holdings and review nature of change as an example.

Problems i see with dud pel87 possibility is that Woodside would be long gone.
Instead ,WDS funded renewal of lease after spending $35 mill on 3D and funding a team of analysts on this.
Their hands are also tied until formalities are complete.
If Woodside are as excited as we are, they will have the ball rolling super quick.
I also have a sneaking suspicion that WDS may have prepared seismic license application on behalf of PCL.
Our neighbor Galp has up to 12 majors bidding upward of 8 billion US for 4 bill barrels of 10b discovery.
I would suspect that PCL is looking super pretty right now with our massive Turbidite complex, covering around 2400 km and is 280 mtrs thick, with potential to be a 'Single oil trap'. These word were used by Sintana (and PCL during an update if memory serves).
Maybe Iians wasnt a freudian slip after all.

Provided nothing changes politically, all i can say is, i dare Woodside to walk.away....
Noting also, 3D has only covered around 6900 sq km of our >10,900 sq km of Pel87 and the observation is:
1. potential oil is not solely in the fan(= upgrade to estimates)
2. said to be more abundant to the north of current discoveries.