Going further back the original 17.5% acquired from Beach (see here http://www.asx.com.au/asxpdf/20041101/pdf/3nj45z3lh2gp6.pdf) required beach to fund 27% of 1 exploration well and 21.5% of the 3d Seismic programme.
If 17.5% got that much surely the increase to 50% must have covered most of 1 exploration well, so how have they got into the mess they are currently in? Or have they? Very strange all this
west triton rig spudding fermat-1, page-43
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