palta, page-4

I originally posted this on the OXX thread, should probably have put it out across STX, WHN and CMT too. Rest of the article related to CMT specific news so I cut that bit out. Was posted yesterday morning on energynewspremium

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Take this as you may since he is still relatively quite removed, but Andrew Dimsey (MD of Cott Oil & Gas) was quoted in an article I read today:

"...But the main near-term driver for Cott is the Shell-led Palta-1 offshore exploration well in Western Australia’s Carnarvon Basin.

Believed by some to be a 13.5tcf prospect, part of it runs into Cott’s one-third owned licence WA-460-P, which is operated by Strike Energy.

Dimsey said its stake was essentially a third of 20% of the prospect (6.6%).


He said the well was probably about- 2-3 weeks away from a result, while he hinted there were “a couple of other things” in Cott’s pipeline which will create some interest. "