close to signing caterina farmout, page-15

Oh Patersons - you've done it again-

"Low Australian spot market gas prices may create timing issues for development of any major finds"

That is the most ignorant statement I have heard from any SBH on Oil n Gas.

12tcf contracts will be effected by Aust. spot prices???
sure!
and POO is going to surge 20% when the world finds out that my local fish n chip shop left the plug out of the fryer and lost 100 litres of oil.

Aust, uses 1tcf per year in total - spot that.
All NW Shelf projects are being exported - spot that

Local spot market prices are irrelevant to this project and Patersons should pay their researches more than bananas.

Raider:
WA spot prices are currently running from $6.50 to $8.00 per Gj. They still have not secured enough local supply to elleviate this.
Alcoa was a big driver behind fixing this - but their capex dired up 18months ago.
The east coast runs at less than 1/2 this as you stated - mainly because they are too busy burning close to free brown coal which is the closest thing to taking a dump in the sky that modern technology has. Well VIC is using brown - the other states are keeping a bit cleaner.