Woodside buying in would make sense as they have the infrastructure and the financial firepower. Not to mention the oil and condensate would be highly prized too them, particularly as it’s in Australian waters and is of sufficient size to underpin 100kbopd. Much easier less risky to them then chasing deep sea west African oil.
If santos sold 50% I would assume it would be at $>8 per BOE once reserves are determined. It’s why I think we may chase a few more wells before that point, Apus, Pavo and maybe Mensa.
A platform development may be the go with an FSO due to the gas/condo/oil ratios. Not to mention the likely heavier gases such as LPG. It’s why having a Woodside involved provides a quicker route to market for gas/condensates
Witnessing History, page-26
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