Ann: Mahalo Gas Hub Operations Update, page-138

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I simply think your analysis is narrow. I understand your logic but i view is as simplistic. Time will tell but I have high confidence in my analysis.
Santos staff have been out in the field walking the pipeline route planning Wells, conducting assurance on Jemena proposal . At the same time there is significant pressure from the state government to get this going. I think you’re mistaken about timeline relative to other projects this is much more progressed.and has all approvals. In terms of dragging it out, I think the scope to drag it out further is limited.
I also think the idea of the Comet share price being so low that a high teens TO materialises is extremely unlikely , as they have numerous catalysts for share price appreciation including pre payments for GSAs and or investment at the project level etc
The key part that I think you have ignored is the massive demand from the portfolio gas buyers who are going to be extremely incentivised to move away from high carbon coal power generation to very low CO2 gas from Mahalo. There is a lot of demand here. Energy substitution is a key driver as the cost to continue with High carbon energy sources is significant.

I think the other point to note is the share price has moved marginally lower from 19 to 20 to 16 to 17, on retail selling on relatively light volume , where there hasn’t been one institution that has reduced position but rather they are increasing their positions. If I was a fund manager with a 15% position. I will be having simultaneous conversations around corporate actions. The more Chester increase the position, more likely a corporate radar can move on Comet by winning Chesters share holding .

just out of interest do you know how the Santos approval process works ? I do but I am interested to know if you do. When is the next date for feed sign off ?