hey Gump, I don't think TGC (or clean energy, or whatever their name is..) will sit on the sidelines. They're looking to cash-in in Europe, maybe make a quick buck over there, and then revisit the Cooper. That's my take.
If and when they do come back to the Cooper to start drilling, that's the only point at which HENC will have its hand forced. I place the odds of HENC finding another partner at well below 25% - probably well below 10%. One dry hole you can shake off....two dry holes and investors start to become scarce. Throw in an oil market that is throttled by OPEC's ineptness and the ever-looming USA fracking biz to keep prices in check, and you have one of the most challenging eras in oil.
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