magellan may be about to sign up meo hub

Maybe of high significance re(full detail,see at bottom) these recent comments here from Magellan, suggesting potential methanol partners are -

"prepared to begin work to develop the field...."

Magellan bring with them,Evans Shoal partners...Shell, Osaka and Petronas.

No other party is within 3 years of any possibility of development of high carbon gas into methanol in the whole of the Timor Sea.....only MEO who have been talking about this exact type of project for a number of years.

The Heron farmout, may come, or be associated with detail of development of the Greator Heron gas hub. (my view).

Should that be the case (and involvement of Petronas, in particular, look for a very strong gap up)
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http://openbriefing.com.au/AsxDownload.aspx?pdfUrl=Report%2FComNews%2F20110202%2F01147498.pdf

1st Feb 2011

As previously stated, given the high CO2 content of the Evans Shoal gas, Magellan believes that methanol production is the best development option for the field. This potential has attracted the interest of leading Methanol market participants. These potential industrial partners are prepared to begin work to develop the field for onward Olefins markets and for fuel oxygenation in Asia.
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