santos clarification , page-2

Had a look at Petrofac and what happened as well.

Note the date. Beginning of the GFC.

Oct. 20 (Bloomberg) -- Petrofac Ltd., a U.K. oil-services provider, said its exit from a natural-gas project off northern Australia was a result of ?huge? exploration costs.

Gas from the development is ?not going to be monetized any time soon,? Petrofac Chief Executive Officer Ayman Asfari said today in an interview in London. ?You have to find a lot more gas and it requires a huge amount of investment.?

Petrofac yesterday withdrew its 10 percent interest in MEO Australia Ltd.?s NT/P68 project, the Australian company said in a statement. MEO will regain 100 percent of the license, it said.