Brookfield along with their partners certainly haven't been...

Brookfield along with their partners certainly haven't been pumping mega bucks into quadrant. Probably been underinvesting. Now it seems Santos want to suggest they're paying top dollar for the assets that have been depreciating since 2015. Santos are trying to paint a picture that dorado etc aren't worth much. I know they're under no obligation to make an offer for us and vice versa. They should be careful of being too smart though. They might just come a cropper.

I expect CVN out on the front foot tomorrow. If santos want to develop the assets quick sharp as they say they need our co-operation. Best they play nice or they'll be friendless. I suspect they've effectively paid quadrant a substantial fixed price for the reserves and the small bonuses. Now let's not pretend the bonus prices are the value they really attach. If they believe that they're a bunch of clowns and not the sort of partners you'd want to be in bed with. Fully expect them to play silly buggers to try get Carnarvon on the cheap. Things would certainly be easier with us out of the way.