re: Ann: Winchester-1/ST-1 Weekly Progress Re... whatsup,
This doesn't seem to add up. This was a 120 day drill and they do not come cheap. Not even to Santos. STO would be watching it closely. Even the 2 week extension was going to cost about $20m. ( of which Albers was to pay $5m...perhaps this is what has set OXX back? ...and yet the extension has not yet been logged or written off.)
Santos has already announced this well as a gas discovery in their recent quarterly. To be fair they did not say it was a commercial discovery but the inference was there and that the extension ( which has still to be tested ) was to be a bonus.
Got me beat. But as you say STO can shrug this off whereas it has cost OXX a 40% gash in it's sp.
I thought the drill bit had talked. I will keep on watching...and hoping.
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