To be honest it doesn't concern me if PFC jumped the gun or not (since I hold BKP shares). Either way it doesn't affect our current share in the project. For BKP shareholders it's better that PFC have managed to get Statoil on board at this moment than later.
It creates more certainty regarding long-term funding for the project, confidence in the permits and also more exposure to the Georgina Basin - because in the end if statoil commits to the deal, then this will be the largest investment in a shale project in Australia by a long shot- it's good for headlines ;)
Saying all that. I still believe they received a good deal in comparison to BRU and NSE
BKP Price at posting:
1.4¢ Sentiment: None Disclosure: Held
