yes I read that paragraph also.i think the only reason BPT would...

yes I read that paragraph also.

i think the only reason BPT would assign any thing to SNE, is all about dilution of risk, and reduction of expenditure.

it seems that beach usually wants to spread its risk, by selling down to a meaningful %, eg 40% or so, BUT still wants to retain Operatorship.

it also seems to like the idea that a smaller % stake means a smaller J/V contribution to capex.

then when the investment looks like it will be a winner, Beach may have a go at full control.

the old "oilers" at these coys seem to like the idea of spreading risk. CUE does it also, as do heaps of others.

cheers