go to santos ffn preso on hotcopper, page-8

Good Find - enough to revive some sentiment

Why would he telegraph his intentions ?
- a huge amount of gas, too much for NSW domgas
- pressure the NSW govt to have a gas powergen mandatory % like QLD , else the gas is going north
- signal to ESG management about LNGN feasibility
- or some other reason

Those old "Beneficial Interests" in ESG

35% + 20.97% x 65% = 48.63%

That is not all that STO has in the Gunnedah - they have lots more in their ownage but have not proved up yet

ESG is the Lead that gives them a head start with the vast riches in the STO acreage to come

10.8mtpa - 7.2mtpa = 3.6mtpa Train 3 - needs about
3.6 x 65 x 20 = 4680PJ

STO is just testing the market by saying if they have to they will pull gas north to Gladstone

The message is to the Hopefuls in QLD who have gas and want to sell it into GLNG Train 3 -- "Dont you ask too high a price as we have options south of the border !"

DK talking to Fairfax News with HC the Transmission Channel - shows that DK knows that his target audience will see it


Cheers