It will be interesting to see when BHP hit the GO button.
They are currently manning up their Perth team and it is a possibility that the deepwater expedition will be the rig used...
I would not be too surprised if BHP elect to drill in around 8 months time (after the typhoon season) - remember that this has not been a standard farm-in, BHP have been all over this for a couple of years... may have done some up-front planning.
Great deal for Otto - even if only one well is drilled and they give up 30% that is paying 10 for earning 3 on the first well (i.e paying 100% for a 30% stake for first well - and paying 5 for 3 on the second well if the option is exercised)!
Well done to the OEL team!
p1000
It will be interesting to see when BHP hit the GO button.They...
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