have santos bitten-off too much?, page-19

I would expect more cost blow outs and/or delays at some point in the future. Just an example there is a small section of pipeline they need to build to connect up to their plant on curtis island. It has to go through land which is on a mining lease to another company. Its 2012 and STO just started negotiations with them to work out the details of where to place the pipes. And by negotiations I mean they showed up and made their demands expecting it to be done without a fight and left. This section of pipeline they plant on building underground which is no easy task and no way I think it would be built by 2014. Still think it is at fair price atm but see potential downsides in the next year or so.