Ann: South Erregulla Update, page-8

@Oddoneout IMO there is no chance of a dividend payment while they still have significant capex requirements for the development of WE and Ocean Hill. Remember dividend payments are/should be only issued if a company has excess cashflow that the business doesn't need/have a use for. Once they bring all four fields into production for a couple of years (say 2028), then it is possible that they will be awash with so much cash that they may issue one, but that's also contingent on whether they have found more gas in which to rekindle Haber. @invertedva think we had discussed this before but Haber has def been put on the backburner indefinitely. Given forecasted gas price in WA will be >8 / GJ and potentially tightening further, it makes very little sense for them to subject the company to a whole lot of additional risks (construction delays, financing, cost escalations, approvals, etc etc etc) when they have the money, the land and the near term payback to just pump the gas into the local market.

I've been in the process of updating my DCF to reflect the new strategy, but keep getting sidetracked with other things (family, life, etc). Will share when I've finished it

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