Agree with all your points but just want to give further clarity in regards to your statement... " If March 2018 is what GV has told Meridian to be a date for tolling agreements and FID to be executed and that pitch was strong enough for Meridian to think that it was worth extending (again...) then perhaps we have quiet cause for some strong optimism for long suffering shareholders ".
The extension was never in doubt and we didn't have to pitch to Meridian at all... we are actually waiting on them to get their act together! I've spoken with JB directly, he's quoted to me in exact words, " Meridian has some conditions precedent that are generally associated with their ongoing sales arrangements and relationship to UK gas economics. I remain reasonably optimistic about Meridian but they are a small organization so face some challenges. They do have some highly talented individuals involved – a positive. Continuing to market 8 mtpa is just good sense ".
I interpret this short extension as GV applying pressure for Meridian to execute on FID or face the increasing possibility of missing out, considering our talks with potential customers seem to be near boiling point! We're desperate to get that first customer locked away but there's no denying the macro environment and change in tone coming from management has turned in our favour. Demand is proven coupled with the lack of future proposed projects that will reach FID in time to meet soaring demand/ given our strong position... it's hard to fathom how we're going to miss out!
Bring on 2018... we are going to own it!!
LNG Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
