new ann., page-80

Some background.

Comments on the amended Offshore Petroleum regulations closed on the 14th January. Closure dates for comments on the govts draft response to the Montara inquiry, which includes amended regulatory requirements, close on the 25th February, and Karoon are proposing March start date as I understand so some delay is probable.

However here's some quotes from Martin Ferguson when he tabled the Montara inquiry response in parliament. Take note of point 8

"6. At the time of both these incidents, there were calls from some parts of the community for a moratorium on acreage release and industry activities.

7. Our approach must be to ensure our oil and gas exploration and production operations are the best and safest in the world.

8. Shutting down the industry and putting the nation's energy security, jobs and the economy at risk does nothing towards achieving any of these goals."

A couple of months - possible, a year unlikely.