Ann: Indicative proposal - due diligence update , page-31

re: Ann: Indicative proposal - due diligence ... goodaye,
I am not a s/h in either MEL or DTE.

Some of the actions of DTE make me shudder. In my view, sometimes they seem like the little boy who stands outside the lion's cage at the zoo, and pokes the lion mercilessly with a stick - then is surprised when the lion rips his bloody arm off!

You may recaal that DTE was the CSG coy that went into the middle of Sydney, and wanted to drill an exploratory CSG well. And not just any Sydney suburb, but Inner Sydney -right in the heartland of Greenie territory!? SO all the achieved was to add a few more hundred thousand activists to the anti-CSG register.

ANyway, I think there is a big difference between the DTE situation/project at Fullerton Cove, Newcastle, and the MEL proposals in Northern NSW. I would have thought the approval of DTE 's project does not necessarily mean an approval of MEL's plans will be made any easier.

WHilst I bagged DTE and their St Peter's adventure, I think the Fullerton Cove venture is smart. Its small, there seems to be no long pipelines involved, its one well, its NO fraccing, it snot in a dense residential area, but a hobbyfarm/horsey area - it already has the gas sold to a local business, and they can point to the direct employment of 125 new jobs. So imho, it ticks all the right boxes. It pushes the CSG door open a little bit.

The MEL projects however, are on a far larger scale.
They need to drill multiple wells, both conventional and unconventional, and they need to transport it to market (ie probably Gladstone).
The proposal to Drill the wells has already caused huge uproar in the Nthn NSW areas. They are organised and widespread. Just look on the net, and you will see every little group of neighbours having "high tea" has organised themselves into an anti-csg Action Group! And they are media and politically savvy imv.

Then you have the issue of the Pipeline - that just expands the dissident base.

So MEL is having, and will continue to have, a much tougher time getting its approvals imho.

The relevance to WCL is that I think that LNG/HQC will NOT be waiting for the MEL approvals, simply because it will take forever to happen, and it may not ever happen?

LNG/HQC are desperate to get their OSMR technology proven up in the short term, and WCL scenario will allow that to happen.

cheers