Ann: Alaska Winter Field Season Update, page-12

Wow - under $6 and AUD at o.USD 0.66
Transittion of Botton
Alaska looking Ok
PNG - Usual cyclical political risk and delays
Capital requirements high but big partners and finance rolls gradually so no real crunch and they are pretty good at locking in at correct stages for long enough to ensure projects once started don't stall for lack of capital. long term gas pricing and gas offtakes good cash flow but wary of any new deals being done at lows to meet capital requirements .

Unless you think the world economy will really stop , new politics will stop Alaska and PNG will simply stop all exploration or production there has to be some value at some point? Timing it is so bloody hard as I never had the AUD getting down to this level ad staying there.

Only good news is I'll have div paid in AUD

At these levels what risks am I missing with a 2 year outlook beyond the obvious of not getting scale in Alaska and PNG standing 100% and not progressing?
Write calls into any early exuberance and buy em back when it drifts lower?