I guess AGL have learnt through the Barossa project about the...

I guess AGL have learnt through the Barossa project about the risk associated with exploration and what it costs to get a potential 75% earn in.

Better AGL fund such exploration than TEY given the remaining cash.

Now that AGL have missed out on NSW energy retail, perhaps they could put some money into deep drilling.

It would be interesting to know how vulnerable to flooding TEY's tenements are compared to GDY's. Perhaps TEY's are much better located.