Downer or APA but not COE (as long as the gas we are piping in meets the specs we said it would)
The whole PI insurance is a questionable area though .... taken right off the PDS from Zurich Australia PII ...
IF the gas plant doesn't meet acceptance criteria, then multiple problems exist, not the least of which is we (COE) do not monetize our asset within the timeframe anticipated (sure the HC remain but DCF goes down over time - a dollar today is worth more than a dollar in a year's time). Given the liquidation damages is at the Cap set in the development agreement then where is COE's remedy for this new FY? Hence my "What's next" musing.
I'm sure there will be more news flowing.
Ann: June Quarter Report Conference Call details, page-5
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