On the broader front, this deal follows soon after the Beach farm-in to Ironbark, also a big deep structure seemingly untested regionally. These deals are a great sign that the oilies are starting to set up for the next round of exploration. Having tightened their belts and trimmed the excesses, as soon as they start getting confidence in the oil/gas price, they will be preparing for the "where next" drill expenditure. And having more than two years to work their material, the best prospects will be drilled early in the new phase. I see a very busy and successful couple of years ahead for those oilers that prepared wisely.
.....my opinion, of course!
mutineer
Ann: MAY: Beehive (WA-488-P) Agreement with Total and Santos, page-13
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