Is it a coincidence that both the CLRS and the GT3000 drill rig...

Is it a coincidence that both the CLRS and the GT3000 drill rig are sitting on sites operated by the same (Australia's largest) oil & gas player?
In my opinion, the answer is a resounding NO.

Is it a coincidence that the CLRS sat idle so so long without any apparent interest from ANYONE in the oil & gas sector, apart from WPL?
In my opinion, the answer is NO particularly in light of the limited coring work that is undertaken.

Is it a coincidence that WPL were ultimately the 'first cab off the rank' to test the CLRS?
In my opinion the answer is NO. Refer above.

Is it a coincidence that the GT3000 was pulled from the Merredin test site unexpectedly to undertake a job for you guessed it, WPL. In my opinion the answer is NO given that WPL would have been well aware of the global interest being shown in the rig.

Is it a coincidence that very little information is known or disclosed about the job in Karratha. The value of the contract and the terms of payment appear to be cloaked in secrecy. If we are to believe Globe Drill is being paid on a 'day rate' basis then how could CKK have negotiated up-front payment for the work with WPL?

Is this work simply a way of giving WPL their own personal demonstration of the rigs capabilites, I believe it is precisely that!

Why would CKK and SIPL agree to vary the terms of the IP agreement - push the commencement of the second rig out to 18 months if necessary, when the rig is looking so positive? So that the securing of long term contracts can be the focus. Surely only having one rig on the ground increases the level of risk if there's a mechanical problems? Now Warren Strange received 4.5M shares and 4.0M unlisted options for agreeing to this variation however can you imagine the lost royalties he is missing out on as a result - millions! Would he do this for a much higher short term reward perhaps - TAKEOVER?

Do WPL have CKK firmly in their sights as an acquisition target?
I believe tha answer is a resounding YES.

WPL could acquire CKK and quickly be in the unique position of having two separate industry changing technologies at their immediate disposal, both of which would provide them with significant market advantage.

Are WPL likely to make a re-entry into geothermal energy, well I'd reckon they may particulary if they own a rig that can significantly reduce the cost of the biggest expense early on in projects - drilling!

The relationship between CKK & WPL has been maturing for longer than many think, clearly it was WPL that wanted to be the frist to the CLRS technology on their well and they were prepared to wait as were CKK ;)

As for the share price in recent days, well it's no coincidence that it has drifted back to allow for accumulation by the bigger fish.

Watch this space I reckon folks.

WC8



Whilst I can't provide a precise timeframe for this