Jenema pipe contractor terminated, page-5

"Interestingly Jemna do not see the removal of McD off the project will set them back, they still intend to start in mid 2017, they still expect to be done in 2018. Interestingly though there is a reference that there is an expectation that the first gas being pushed is offshore from Blacktip, not a single reference to the need for CTP gas for Jemna to go ahead and build the pipeline.

I think all of this just shoots holes all through the SoA and what we are being told that Jemna may not go ahead, that the pipeline is contingent on CTP being proven and that it is essential that more exploration etc be done to prove sufficient quantity to ensure Jemna goes ahead with the pipeline.

Does this provide us the bare minimum opportunity to de-mothball our existing facilities and just pump our existing proven gas supplies as we do not have to fill the pipeline. It may not be initially the big gas volumes we hoped for but it would mean we vote no, we own our company, we start selling our gas, we turn profits, we expand our fields and reserves as we go and continue to sell more and more gas and McBank can sit on the sidelines wishing they had been more honest and offered us a more realistic price in the first place."

Well said

CB