JV is Derisking Thsi Play for US...Load Up ..September 01 = $0.80 + IMO..
The Southern Georgina Basin asset will be Statoil's first shale operatorship outside the US.
https://www.statoil.com/en/NewsAndMedia/News/2013/Pages/10Jun_Australia.aspx
Statoil will assume operatorship from 1 September 2013, and will carry 100% of the initial exploration phase capped at USD 50 million.
The first exploration phase will continue through 2014, at which time Statoil will decide whether to continue the exploration to further de-risk the play.