Santos said it was looking to retain 40%-60% working interest and would consider exchanging for interests in other prospects.

The Deep Frio play has an inventory of more than 15 prospects which were generated from a regional study which had access to more than 850 square miles of 3D seismic.

P10 prospect sizes ranged from 18-68 bcf with the depth of the structures between 11,500 – 19,000 feet.