And as I have always maintained, games being played ... pending...

And as I have always maintained, games being played ... pending the mother of all melt ups ... when BTAs are announced.

Anyone following the regulatory process and the next wave of projects (see recent AGM slides) knows ‘competing’ projects (I.e. incremental new supply) are many months from getting to where Magnolia is.

Take Tellurian, burnt $80M in past 3 quarters, just raised $100M (sp -20%) for FEED, yet still state mid-2018 at NTP. Get real. Ain’t gonna happen. And especially given recent review of FERC’s regulatory approval process.

Meantime LNG.AX sp looks like a sick parrot. But for those in for the long haul (along with value investor Baupost), rich rewards remain as the fundamental story remains very strong.

So ‘ignore’ market noise and instead focus on fundamentals noting where Brent/ LNG is trading (and JP $9 btmu), UK energy mess (don’t write off Meridian), CN imports, overnight explosion in Austria affecting Gazprom supplies and coming supply/ demand imbalance and you’ll be richly rewarded.

42c?! Crazy IMO. So I’ve taken advantage.

And remember it’s only a few weeks ago, since the significant change of language in the quarterly and one must assume for good reason.

Timbo