What is proposed at PEP11 is essentially an economy of scale strategy, two explorations for the price of one drill. Advent/BUY can explore for CCS potential subject to NOPSEMA approval of the exploration well specifics. To take it to the next level, they will need a GHG storage permit and by extension, ownership of the title they want the permit for. I am somewhat underwhelmed that Advent didn't apply in this release but I can only presume they would apply in the 2022 or 2023 release based on the drill results. It does explain why there hadn't been an announcement made in relation.
What is proposed at PEP11 is essentially an economy of scale...
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