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News: OXX Octanex not granted petroleum retention leases for Ascalon gas discovery, page-17

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06/04/17

10:33

Post #: 23897532
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Originally posted by rivermore ↑

It would be a nice outcome but more likely to be a Santos call to tie into Bayu Undan. I agree about the potential gas upside, 380m of vertical closure is potentially an enormous amount of gas. Hoping they don't sell outright, I would rather see a 1% payment on gross value of gas extracted. It could end up being a gift paid over 20 years. (Don't be surprised if STO try a t/o, at the current crazy mkt cap, thats easily their cheapest option).
We still may be able to get a WPL farm out deal for WA 387P also, it has some very substantial targets and would be a easy tie back to Rankin. Even the gas at Winchester may be of interest if they don't get more backfill soon. Clock is running down quickly for both projects.

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Hi River,
Geoff's got way too big a hold of the registry for that be a chance, hasn't he?

OXX Price at posting: 4.5¢ Sentiment: None Disclosure: Held
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