What an absolute horror show. This company has been squandered...

What an absolute horror show. This company has been squandered by management who have failed to enact a plausible strategy. As has been written above and before by me, how do yo expect to get customers to commit to you when you have no certainty of solvency.

The only way this company will continue is if it brings a JV partner with balance sheet and/or who can commit toa cornerstone offtake element. Every, and i say every, other LNG development by non-IOC's has been done with offtakers aligned with equity interest to the development. Whilst our bunch of bravado Yanks thought they could do it alone, Next Decade who were behind us are now at FID and away.

I have said this to Vesey and Maurice before him ad nauseum. What we got was a Chinese contractor and an opaque Chinese investment company.

I cannot believe they have come off with this light weight update at such a crucial - or life-supporting - 6 months.

My advice - walk into the nearest international oil company and have over the keys to Magnolia for a remaining stake in the project. And quickly.