sector developments

For those of us (me included) who like to "fantasize" about another bid, you might be interested on what's happening up the road a ways.

Further ORGanisation in news out of Gladstone with the following announcement -

"Origin Energy advises that the Subscription Agreement facilitating the acquisition by Sinopec of a 15% ownership interest in Australia Pacific LNG Pty Ltd (�Australia Pacific LNG�) has completed today.
In addition, all conditions precedent have now been met for the sale of 4.31 million tonnes of LNG per annum by Australia Pacific LNG to Sinopec, commencing in 2015.
Australia Pacific LNG received US$1.765 billion for the 15% ownership interest. As a consequence, ConocoPhillips� and Origin Energy�s ownership interest in Australia Pacific LNG has been diluted to 42.5% each."

Mmmmm....a bit more in the war chest, with the added certainty of sales commencing 2015.

What say you Cabbage? It's nice to see what others have in the [pipe]line isn't it? Don't suppose Sinopec would mind whether their gas was shipped out of Gladstone or Newcastle, or both, would they?

Thoughts anyone?

Lilac