Ann: SB Energy Sign Term Sheet, page-167

Well, I am just struggling to understanding some thinking.

1) Some whining everyday regarding the lack of news.
Well, we have 5 announcements from 31/1 to today 1/3, and only 3 weeks from the last CBM announcement. So, what can you say?
Also, Neil has created two videos within a week following up with the announcement. To be fair I think he's improving on the marketing aspect.

2) New down-ramping point from online experts is that the result or flow rate is not good enough.
Well, Neil said probably 6 months or more so technically we would know by mid-May. Is it too soon to jump to the conclusion?
From the latest video, NY explained the commercial is a combination of flow rate, cost, pricing and fiscal regime. And he mentioned that our wells are low cost and shallow which are a plus. I do believe that people will recognise natural gas as a transition energy to replace coal on the way to net zero simply because renewables technology cant handle that yet, thus, pricing should not be an issue.
Also remember that Mongolia is super polluted because of coal so natural gas should be very well regarded there. Sometimes politicians just need something to work, rather than profitability. If you live in kinda-similar-politics-environment countries you know what I mean.

3) What is an issue with H2?
From memory our CBM in Mongolia is always mentioned as a foundation asset and NY never says that H2 or Grandis can replace that.
People keep saying I am here for CBM not H2 but the fact is that we are not giving up the CBM. We are making progress with the flow test.
Spending 10-year there NY may find that H2 has an opportunity there and would like to investigate that with the partnership with SB Energy. That is a great deal isnt it? Even Sinopec just recently announced $1B investment in hydrogen in Inner Mongolia, not far away from South Gobi.
So what is the problem with H2 business? Why people are so negative about it? Even if it doesnt succeed I dont think it has any impact on EXR value.

Lastly, not relevant but Mr 10c said he doesnt want EXR to fail but maybe he forget to mention that he doesnt want EXR to be successful as well, after making a destruction 10c comment. There is no other way right? And trust me he will be stalking around for while and blaming NY for not blowing hard enough.

Saying something like enjoy watching other making loss on investments is just something beyond my imagination. Better say nothing then revealing your true colour. I believe we're here to support each other on the long boring investment journey to escape the rat race or achieve FIRE. If you not held and dont believe in the company then better go somewhere else, do something more meaningful than down ramping day by day. It just doesnt create any values.

I do really appreciate all good contributions from the gang here over the last 3 years. Keep up the spirit.

GLTAH