5 days to go, page-9

Howdy Seamfiend,

It would be just our luck that we get the approval on the same day the DOW has just tanked 300 points! Hopefully it will pull its head in tonight and the risk of a route will dissipate.

Thinking about your suggestion of a provisional approval, it makes sense from the political angle, but the problem will be STO and BG need enough regulatory certainty to make FID's. A clayton's approval won't work and it seems to me if the minister is going to take the flak from the cockies he might as well take a double hit in the one month rather than give them another run at it in another month or two. the good thing is they can at least say csg is cleaner than coal and therefore there is a larger environmental imperative etc.

I'm also sure that it has been spelt out to the minister that near enough to an approval will not good enough to get the cheque books out. I don't think the whole BG group board were here the other week to just see how QCLNG was coming along. the timing of their visit was just too coincidental. More likely they lobbied their position and also sought to iron out whatever issues remained with the minister's department. there are clues that Santos has done this also, having amended their EIS with reduced well numbers / land footprint and included scope to bring in gas from other areas such as the cooper. Also santos just announced a major spend on Roma airport..another co-ordinator generals condition. STO have just run another set of community meetings and I haven't noted any further public protests..

BG shares are holding quite well over the last week or so which is also a good sign.

Fingers crossed as the sp trawls the depths again.