The extension of time for Shell to consider the results of the very expensive Palta well in WA-384-P runs out on 20/2/2014. Will Shell renew or will the permit revert to OXX and will OXX renew then try another farm-out to another major oil co on similar terms? The announcement by Shell of no commercial hydrocarbons does not necessarily mean no discovery - refer Winchester where Santos announced no commercial hydrocarbons but the reality was a very exciting discovery and we await the next follow-up well. Remember Palta was a very large structure in a gassy basin.
The extension of time for Shell to consider the results of the...
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