broker note, page-3

"What happens to the 50% of the carbon credits that Woodside (Metasource) was entitled to buy (at a 25% discount to market) from the future production of GDY ?"

I'm not sure if I understand the question, I hadn't heard of these, are they 'early action abatement credits' under a future Australian emissions trading scheme? Under a conventional cap-and-trade scheme generating zero-emissions power does not entitle one to a credit, but zero-emission power will be more competitive due to not having to pass on a carbon price to the consumer.

I have heard that Woodside has contract with CO2 Ltd (COZ) for offsets, which may entitle them to early action action credits.

GDY's project may also entitle them to Renewable Energy Certificates when they start generating power.