WA-360-P is up for renewal by the end of the year and as I understand they must make the application (as advised by Iam many moons ago) by 31.10.11, this is only 2 months away and is the latest day available.
After the P&A on 13th Dec last year all PP have had 8.5 months to assess their future in this permit.
Lots of activity today especially the last minute jockeying at auction time, interesting to say the least.
Could we be close to an ann about WA-360-P, I cant see a single duster (albeit with a pressurised zone about the target area) stopping Petrobras from its desire to make it in Australia. Surely they will try again if they were so keen to trump everyone else in the data room initially after they saw something that obviously took their fancy. They have spent a considerable amount of resources in time and money on this one and they have not pulled out of the deal at this stage which I believe is extremely encouraging.
MEO Price at posting:
18.5¢ Sentiment: LT Buy Disclosure: Held
