Ann: LCK Signs Heads of Agreement to Commence ISG in China, page-254

Hi Ashes

It will be the multinational companies who ultimately dictate the commerciality of the project - we aren't living in the U.S.S.R..!

I don't follow STX AND GLL as close as LCK, however, I would imagine that there is nothing new or ground breaking with their methods of gas extraction, and their IP isn't as valuable as that held by LCK.

You all fail to recognize the meaning of the 2P reserve, and a "gigantic" one at that! If commercial deals are are executed, where does that leave the flow rate argument? Would you say that these corporations have failed in their due diligence?

Do you believe that the commercial discussions are all b/s in that case?

We may have reached a stalemate on this Ashes, but I understand your view as to why you may not be happy with management, however, it is not a view expressed by me. It may be worth keeping this one on the watch list though!