gold coast bulletin report, page-8

Hey Gassed,

I have mentioned there are plenty of options for LNG... players in Gladstone could come on board. But what happens if they can't get on board?? Santos would be a good outcome but it will take awhile to sort through the details.

Uncontracted gas is also about in good quantities.

Just some clarity to the situation would be nice.... undestand they can't do it over night but these are the questions the big money will have.

Just a pilot program to demonstrate gas deliverability isn't a cheap one. A 5 spot frac program will be $5-10m and they would need a few of these to cover their holding.

Just trying to mull through the reasons why this dropped like a stone. The anticipation for this announcement was palpable. The result is good and is a valuable asset but SP is back where it was before the interest started.

Gaz