Jibby as usual great analysis grounded in sound logic. WDS have...

Jibby as usual great analysis grounded in sound logic.

WDS have placed themselves in an awkward situation, completely of their own making.

They didn't want to farm in unless they were sure the data from the 3D survey produced results that were worth further investment, but in doing so they have run afoul of the required process of obtaining the SSL to use the data because they are not yet a JV partner.

Quite embarrassing for Woodside I would imagine.

But not surprised at all.

Woodside senior management are starting to develop a reputation for sloppiness when it comes to the detail of managing risk assessment for new ventures.

The irony of course is that with recent events WDS now need this more than ever.

The solution is simple. Woodside need to farm in and then as you say the problem goes away.

But they won’t until they are absolutely certain of what they have, AND that it won’t create mass hysteria amongst major shareholders and environmentalists.

Right on Xmas or very early in the new year would be a good time to drop the farm in announcement ?