Just thinking about our combined interests in these two choice areas within the Nappamerri Trough.
If BPT win their case they would gain 40% of ATP855 which would give total interests in the combined acreage as below:
ADE - 15%
BPT - 64.5%
ICN - 20.5%
If they don't then this is the situation:
ADE - 15%
BPT - 44%
ICN - 41%
I'm thinking that if BPT do lose the case, then that would surely focus their attention on gaining more control of ATP855. If they made a bid for ADE that would give them in one stroke, full control of PEL218 and a majority share in ATP 855.
Then again if they win, would they be tempted to take over both ADE and ICN and so gain complete control of both areas?
Assuming both areas prove up, then to gain complete control must be a massive temptation to BPT.
Either way, assuming all goes well in the future I feel it's a very good time to be an ADE holder.
I've used figures based on ADE's presentation on 2nd March - Excellence in Oil and Gas, using the data on page 11.
As a matter of detail you'll see that in line 3 of the table (net km sq) they have totalled 160+336 to 486. Must have been the excitement of all those big $ figures. :-)
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