In Australia the government generally requires that the whole field is unitised across the two permits, ie in this case we would get a share in the rest of the Wheatstone field (but give up a lot of the Artemis portion).
Normally we'd get invited into the full development as a result, but in this case I am not sure where things would lead onto from field unitisation.
Gas2All,
Jurgen has one other obvious option, which is to concede more of his rights to the pf. With his weak, and weakening sp, and the expense of the drill (and no obvious queue at the door) I'd say he's got little option. Or maybe the pf has gotten cold feet over the lapsed months and thrown some condition in at the last moment as an exit ploy? You've got to be worried about any "deal" that takes this long with showstoppers not yet firmly agreed by the RELEVANT parties.
Looking to me more and more like a brilliant Claytons farmout. Must also be eligible for some sort of entry in the Guinness book of records.
EL
CUE Price at posting:
22.0¢ Sentiment: LT Buy Disclosure: Held
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