Ann: Blue and EnergyAustralia Sign Gas supply HOA, page-5

This is excellent news for Blue Energy and our future as shareholders ... Securing customers underpins the future development of the pipeline.

Based on the current Wallumbilla gas price of $6.90/gigajoule, this contract represents $690 million Revenue over 10 years, less costs of production. And this represents only 3% of Blue's Bowen Basin Gas Resources.

Energy Australia is a top tier gas user on the East Coast who is into retail supply and electricity generation bringing gas to the south. This is an excellent customer who has a large gas book to fill. It may well be that as the pipeline becomes more certain their Agreement calls for greater supply from Blue.

Blue are also currently in discussion with other customers.

Revenues from gas sales could be seen in two to three gas.

Great news.

Kip