Why Dukas Is Not Being Drilled
Santos likely trying to renegotiate the farmin deal because had they just drilled a bit more to total depth they would be holding 70%. Now the next step is to bring a rig from overseas to finish the well and that is big dollars. CT&P directors are in no hurry to renegotiate because they would like to give their current equity in Dukas to Mac as part of their own personal deal when they hand all the assets with liens over to them.
I'm with pilots I recon the well is most probably gas shows. That aren't commercial, and Santos might be trying to get some money out of central to drill the last bit, so central can lose some money too
"Can you please tell me which rigs here in Australia can be used Pilots and I will ask someone I know in Santos what’s going on! "
That's what I like to hear.
Exert your influence and connections to keep the bastards honest.
Santos never answered my questions I emailed to them long ago about Dukas.
Maybe you can find out something for us share holders.
perhaps you are right in saying what you did about STO asking CTP for money to drill. Although I thought that if you are farmin in youn should pay all the costs.
On the other end of the story none of us know as to why Total walked away from the JV and no one even knows if CTP paid them their share of the drilling costs. From memory it was about $12 million dollars or thereabout. Dyor.!
The point is that, if Dukas is a dud, that will spell the end of us.
Whether Dukas is a dud or not wont matter to the shareholders because the directors of CT&P are going to allow Mac take over our assets for nothing as per terms of recent finance extension. Mac will own it as per liens and calling in debt and shareholders will own effectively zilch....Directors of CT&P organised all this to personally profit by scoring ill gotten monies from Mac by handing over our assets
All this ground that john consolidated into ctp, Looks like its all rubbish.