Hi V8
Just a feeling - no more.
With them owning 30% and needing to secure future market share - seems a logical step to take.
Equinor/Statoil are doing the minimum to keep a foothold in exploration permits EPP39 and EPP40 which cover cover approximately 12,000 square kilometres by drilling the Stromlo well approx 480 Km west of Port Lincoln. They are however committed to hydrocarbon production over the next 20/30 years in Australia alongside increasing investments in renewable energy solutions.
My view being that whilst they are keeping their options open by drilling the Stromlo well with no guarantee of success - why not take out our 40% of Mahalo with the certainty (or as close as it gets) of substantial commercial gas with future production being at the low end of the cost curve.
If they want future production where home sourced supply is being outstripped by local demand - Why not?
comet moving forward, page-9
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