Ann: Good Oil Conference September 2012 , page-6

Peter's presentation was superb, i was very impressed with it. However 20-25mins was quite short considering the size of our portfolio!

I did not talk to Peter, but i was offered a chance to speak with Peter by another executive, Robert Zammit. I was quite happy talking to Robert and Peter was talking to someone else anyway.. Robert was a very nice man, took me around the exhibition booth and showed me various maps/data etc (all publicly available) for over 20 mins. I am very grateful for this.

Below is my opinion, so please DYOR.

1. I think it is foolish to think Seruway will not be farmed out at a later date. Until i see a notice from MEO i'm not going to believe otherwise.

2. Corporate and Dr. made a very good point about the local LNG demand.. A simple phone call/email to MEO should clarify this..

3. TS project will not end with Heron and Blackwood, more like a jump start. Regardless of the outcome from HS1 and Blackwood the ongoing/planned activities in the surrounding area is giving me a lot of hope TS will one day become a reality.

4. I highly doubt the SP will be floating around here in the next three months.

“The Timor Sea area is both a proven and promising hydrocarbon province that is close to markets in the
Asian region, has supportive governments in Australia and Timor-Leste and has the existing and planned
future infrastructure to support major developments,” Eni said.

http://www.energyquest.com.au/uploads/docs/majors_stir_up_northern2.pdf

Corporate, there was no mention of TS on Peter's presentation..

Mrmoshe, i agree. I didn't ask Robert about ENI... but from the recent announcements from MEO it seems there is some sort of an understanding between the two companies about TS.. And the above statement from ENI kind of hints this too hey..?!

Good luck to all the believers.