WA-460-P is a punt on Shell's Palta 1 next door. To get their ticket from the bookie they have committed to a programme they cannot fund at this point of time. One day the piper will come and demand his $21 million.
"As per the awards term, the companies proposed a guaranteed work program comprising geotechnical studies, 92 km 2D reprocessing, 9.5 km new 2D seismic surveying and 81 square kilometer new 3D seismic surveying to an estimated value of AUD1.2m ($1.21m). The secondary work program consists of one exploration well and geotechnical studies to an estimated value of AUD60.2m ($60.55m)"
i feel an announcement coming..., page-12
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