I am always keen to hear dissenting voices - after all, a market...

I am always keen to hear dissenting voices - after all, a market is made of many players.

Let's sketch out some possible Dukas scenarios.

If a 'duster' without further prospects STO walks leaving the IP with CTP. Not ideal, yet the technical data gained will offer insights into what and where CTP drills in the future across its extensive acreage.

If a modest find, no further prospects, stranded from pipelines. STO will again walk away, with the asset devolving to CTP. If CTP can later develop, say, a field between existing facilities and the stranded field - eg Ooraminna - it could then be brought into production.

If a modest find with further prospects, STO will keep drilling.

If a mid-sized prospect with modest returns, government (Northern Australia Fund) and gas customers will offer every assistance to bring it into production to alleviate the East gas shortage.

If a large find, things are easy and the Alice-Moomba pipe gets built.

I see CTP gaining from every scenario above.

Ash