News: COI Comet Ridge Says Mahalo Acquisition Agreement With APLNG Is Now Unconditional, page-14

Good analysis by Petra. Mahalo North does look technically very interesting and does upgrade the whole northern area which is 100% COI.
However, I am surprised that so much effort appears to being put into Mahalo North at this particular time.
The main question in the short term remains whether the main Mahalo project gets up and running ASAP.
COI needs the main Malhalo FID soon to provide market certainty on project timing, If they can not provide this, Malhalo North is irrelevant.
100% of the COI's effort should be on the main Mahalo project so they do not breach any debt covenants and maintain control of the company.
I can understand the strategy of looking for future expansion but at this stage it should just be a matter of priorities.
There will be plenty of time in the future to drill the 104 wells in Mahalo North once cashflow has be secured from the main project.