Ann: Company Presentation - October 2022, page-20

Yes. IOP is up from the lows of last week. Closer to $US90 than the $US80 it hit last week. Suspect it has bottomed but where to from here; signs don’t look great but anything over $100 is a bonus. IMO TI1 are probably looking for higher than that to press the sell button on a large scale. Probably happy to sell the odd load at these sorts of prices to cover its running costs.

Need to see more BSM sales and/or much higher prices for offshore sales.