Investors beware: after spending more than $40 million in the Canning Basin, the US-owned company's continued pursuit of remote gas appears to be throwing good money after bad.
Canadian firm Vermilion judged the chance of the December spill as "rare" - the same probability it claims for seven planned exploration wells that could affect anywhere along the Pilbara coast.
Plans by Santos, which negligently caused an oil spill off WA four years ago, to drill seven exploration wells off the Pilbara coast have drawn fire from an environmental group.
Woodside wants to sanction its $US11.4 billion Scarborough LNG project in 2021, but a legal challenge to regulatory approval for years of carbon emissions could put it in a two-year legal limbo.
The Conservation Council has launched legal action against Woodside and the WA Government that may reopen environmental approvals essential to the Scarborough and Browse LNG projects.
