Ok I think we need to cover 2 misconceptions on here because...

Ok I think we need to cover 2 misconceptions on here because they've become a theme.

1. 'East Coast gas is hot, we have mahalo we should rush it to market'

Mahalo is situated on the pipeline that carries gas from Gladstone LNG JV fields to the Gladstone export terminal. Mahalo will not be sold into the East Coast gas market (unless liquefied and imported back of course) and further, mahalo is a tested gas reserve not a productive field. You need to move to production (anywhere from 6 months to 2 years or more) before you can get gas to market, which in this case, will be on a ship to a foreign country or one of Australia's ridiculous proposed import terminals (AIE in NSW and AGL in VIC)

2. 'with gas In such demand how is the share price so low'

I am not an Oracle. However one thing I will say is that east coast gas prices are at least in part (or at most entirely) being kept high by producers who would like to see moratorium on inland gas lifted (such as santos bravely continuing to push their Narrabri project) meaning they could sharply correct if this changes. Our gas PEL's are exactly that, exploration licenses. We don't even know what we have in the Galilee yet, let alone a clear path to market. Nothing has changed other than santos coming back in and slowing the news flow at mahalo. This company is a medium term hold (for me at least until FID at mahalo if not Galilee aswell) there is nothing to spike the price short term.

Not directed at anyone just for general background info.