Ann: Euroz Hartleys Quarterly Energy Series, page-57

Hi All

Apologies if someone has already commented on this: I've just returned from our golf club AGM and have not had a chance to read the threads.

The Federal Government today announced it was granting O&G exploration licences over 46,000-odd sq km offshore. Naturally - and fairly enough, it must be said - the Greens arced up. The Minister commented:

“At the same time as we strive to reduce emissions it must be emphasised that continued exploration for oil and gas in Commonwealth waters is central to alleviating future domestic gas shortfalls.”

Two points to make:

1. Strike's gas is crucial and will have markets. We will not fall victim to the 'no new projects' mantra. And ...

2. Strike's credible zero carbon strategy is key to our long-term success.

As someone who is, frankly, pessimistic about climate change, I believe Strike is steering a carefully calibrated course between pragmatism - we need gas in the short term - and aspiration for a greener future. As a realist myself, I am comfortable with this particular O&G investment, which I believe will be a highly successful one for those of us who stay the course.

OOO