Maybe the Sun will not Rise, page-9

There's no end to this Soap Opera as the JV had looked at many options & stuck with the FLNG, whilst the govt wants an onshore plant.Bit like Abadi gasfield next doors where Inpex & Shell proposed an FLNG plant & just recently the Indonesian govt asked Inpex for a revision to the field Development plan for an Onshore Plant. Frustrating never the less. 

Last appraisal well was drilled by WPL at Sunrise-3 in 2008, so has been long time between drinks after 3 wells in 1997  '98 at Sunrise-2, Sunset-1 & Sunset West.

I wonder why Shell haven't packed their bags yet at Sunrise. They sold their 32.5% in Evans Shoal last Dec to ENI after a long 21 years since farmin back in 1996. So their 26% share in Sunrise should b on someone's radar. Don't expect Osaka Gas to do much with their 10%. Besides Shell's focus is on Prelude, as they've also ended up doing the P&A at Crux.

Not sure if WPL would want to restart a dialogue on Sunrise again or pre-empt COP's sale. They should really focus on developing Torosa & Scarborough in WA. Dealing with multiple JV partners across 2 key projects will take time for an outcome. As for Conoco, they've got their money back after buying 8.33% from BHP & 21.66% from WPL for apprx USD 210m 18-19 years ago and participated in driling 1 well in 2008 with countless connectivity models, Development concept studies & dialogues. Their plan-B in the region is Barossa, which looks more advanced at this point in time then Sunrise. Environmental approval was granted in March & an FID is due next year, so this should b sufficient gas to backfill DLNG after Bayu-Undan gas is depleted in the next 4-5 years.