New to EXR?- Read this- some research that might assist, page-262

Amazing interview. Thanks AJ for posting that.

Mat has done a fantastic job with not only tough but very-on-point questions that we want to ask as well. Very happy and satisfy to watch this.

In summary Neil has talked a bit about the situation in Ukraine and how it's related to the market at the moment. Also he said that Mongolia, if we can prove the commercial gas flow then would be a more reliable partner for China than Mr. Put-in for many reasons, especially the development of new projects in Russia will be a question mark given the sanctions from Western resulted from technology/equipment collapse.

Given the current crazy energy market globally, he pointed out that there are more and more parties aka potential clients from Europe, especially giant Germany looking to secure gas supply, thus creating more demand. I have also think that the war in Ukraine has changed the industry forever, unless Russia gonna do something really stunning that can turn the wheel of time back. The gas price wont be at the low level prior to the war ever again. This has a huge impact on the energy market and EXR is at the very right time of history with two sources of energy assets in Mongolia, next to the energy-thirsty-beast and an asset in Australia, famously for natural-resources-exporting.

NY has once again confirmed that the purchase of QLD asset is primarily more of an opportunistic but also admit it's a good thing for company to diversify as well. I see that as an honest answer and he's not trying to play around with it.

Really a good question for the timeframe of EXR projects and NY has responded perfectly:
- Nomgon: flow test is ongoing and we may see some results by the end of the year - yay
- Hydrogen: feasibility study is engaged and also we may have that by Xmas, which could lead to a binding JV with SB for a pilot project - wow
- QLD project: to attract a partner within 6 months - farm-in to finance the deep appraisal wells??

Lastly, NY confidently said out loud that the multiple asset strategy could deliver significant upside and if successful the SP will rerate substantially.

Very excited time ahead.