I didn’t attend the AGM, however, noting that the Mahalo FEED is approved by the Operator Santos as stated in the Prezzo as expected is good. Let’s not dismiss Jemena and its role in the Mahalo joint venture project; Jemena’s basically a JV party in itself given the role the pipelines will play. As stated in the prezzo Jemena’s put its ‘Pipeline FEED’ offer to the Mahalo JV and once the operator and comet approve/accept this you’d imagine comet will be able to announce both to market.
I believe we (comet) will take the initiative and make some sort of announcement - if we are unable to, I would deem it to be unfair and unreasonable.
Once we get a FEED announcement, we are set up for final investment decision for the joint venture, and it should act as a tailwind forcing a serious party to put an offer on the table. If not, we will create further value for ourselves with upside to come from reserve additions in new year at Mahalo East (COI 100%-owned tenement).
I am comfortable and mentioned many times have a big position.
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