This has @Ya required interpretation written all over it. Best I can research is current permit is 3 years and expires Mar '19 & requires a commitment well in Year 3.
Couple of immediate questions.
Firstly, What's the estimate of cost of 3D seismic and a well (good news is shallow depth & only a JUR needed)
Next, if it is the biggest undrilled conventional prospect (and in shallow water to boot) why has it taken this long to shoot 3D and drill? CoGS at 16% (the old 1 in 7 benchmark). Is this a cheap roll of the dice to potentially land a big score???
Be good for someone who knows this stuff to help out with the value prop.
Thanks in advance
Ann: MAY: Beehive (WA-488-P) Agreement with Total and Santos, page-3
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