My view is a stand-alone farm out makes not a lot of sense for much the same reasons. I’ve formed the view anyone with large enough pockets isn’t going to piss about with random factors like weather and access roads full of pondlife getting in the way and trucking some place A$10 per barrel further away than they have to. Sure, a traditional farm out will get the high impact targets drilled, but what to do with all the luvly oil they prove up? The obvious solution to me is a much grander affair, a complete solution involving infrastructure from well head to Broome, it requires a debt facility and the best arrangement for BRU is to have that provided by a financial partner taking a stake in the company so they have our back. I’ll say it till the cows come home and you know more about mooing than I care to, the EIG (Harbor) deal SXY pulled off is the perfect model for BRU. Same people who just offered $13b for STO. Can Eric do an Ian?
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