Thanks freida, there is certainly much to be positive about as production grows and the POO rises over the next couple of years. Ok Tedi sales are a near certainly now the PNG cabinet backs them and that will lift profitability. Of course it would also be helpful if our management assisted by taking some voluntary pay cuts of the order of 40-50% and i think they will take action on that front. Over the next few years we can gradually pay off debt and position ourselves for the commercialistion of our PNG gas resources. That's 2019-21 in my opinion, the lack of a bid for the company indicates that Oil Search is very confident that our gas won't be needed for their projects any time soon. Just on our PNG gas assets, in hindsight Osaka cut themselves a clever deal with their low cash up front USD120m FID on Stanley. Buggar the FID, how nice an extra $30m or so cash would have been for us down the track and all the more frustrating when we are owed USD120m. I won't continue to harp on about our management but i do see changes at the top as an important component of the company's future.
HZN Price at posting:
4.5¢ Sentiment: Hold Disclosure: Held
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