gday Cmon, the Minerva situation is intriguing imho. BHP will...

gday Cmon, the Minerva situation is intriguing imho.
BHP will want "out" of the Minerva asset. I think it is just the field and the gas plant.
I think, but not 100%, that the new gas processing contract between C/H J/V and Iona is just a short term contract.
The Minerva gas plant is just a stone's throw away from Iona.
I think the gas pipelines are all pretty close - maybe a short tie-in pipeline needed? don't know.
So I reckon the either COE or C/H J/V will buy out BHP from Minerva assets, and process the C/H gas at Minerva.
I have no idea what those assets are worth.
COE has history here.
It has the credibility to do a transaction.
It has the resources to arrange funding in some form.
It has the expertise to put a deal together.
It will need more processing capacity to process the increase in gas from the C/H fields, as COE has identified a heap of low risk drill prospects, and the fields are really close to mkts and pipelines.
And COE has history in being able to deal in the gas plant - ie COE could done a "Orbost" type deal with Minerva gas plant. I bet APA would love it. And APA would be more comfortable having had the benefit of the Orbost deal under its belt. And Minerva is operational I think?
COE has Operatorship of C/H, so can drive a deal.
AWE and Mitsui own 25% each, and COE owns 50%.
I think the other J/V partners are active producers, and would participate.
AWE under T/O bid, but would be still actively managing its assets.
Anyway, I will keep an eye on this situation.
Interestingly, it looks like MIN will acquire AWE. MIN wants AWE to get access to AWE gas, in order to supply the gas to MIN's mining assets.
So I wonder if C/H, on the other side on Continent, would be a core asset?? Maybe COE and/or Mitsui will buyout the AWE 25% ??

cheers