Again, to refer to the APA MOU, at the time APA said they would build, OWN and operate the pipeline. That infers that APA would fund the pipeline build. My take is it all depends on BLU proving up sufficient reserves to justify a commitment from APA to proceed. For that to occur APA would have to be satisfied beyond any doubt that these reserves would produce tolling revenues that support a business case.
Ann: Operational Update - Sapphire 5L3 drilled inseam to 1350m, page-15
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