Interesting discussion. What if is always a seductive path--what if falcon had used the money and tested the wells before a JV? Perhaps we would have flows and negotiated a longer stronger JV agreement---on the other hand ,to date 300 million has been spent with no flows. If murphy's law occurred ,and the funds were used for testing that resulted in catastrophe, there would be no JV and no Australia. We can never be sure if not testing the wells with the funds was a curse or a blessing. At present ,I am happy that we have Beetaloo and not Mako alone. The quality of the resource will determine interest by majors.
On another note I found IR very responsive--left message ,steve returned call in 24 hours despite being out of office. If email does not get rapid response call IR.
