Ann: Southern Cooper Basin Gas Project Operations Update, page-69

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The Option Agreement has the following key elements:
• Strike has granted an option to Orora for the supply of 30PJ of gas, to be delivered at 3PJ per annum, at a fixed price over a 10 year term from 2017, the expected commencement of production from the Project.
• Orora has agreed to pay an option fee to Strike, conditional only upon the PEL 96 joint venture proceeding with a pilot production test project.
• Orora can then exercise the option when a decision is made by the PEL 96 joint venture to proceed with development of the Project.
• Strike will use the option fee to accelerate the PEL 96 work program following the recent confirmation of a substantial, continuous gas resource directly under the Moomba to Adelaide gas pipeline.