Simon said something similar to me about the red tape of the majors, he said that they have their own agendas and move at their own pace (no he didn't specifically mention Woodside!). But that is a good reason not to give them full control of the project. He implied that even if HDR held 40% and was not the operator they could control the project through a joint operating agreement.
I think it comes down to who has a rig available. A company with a rig is going to be much more attractive than one without.
HDR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
