Ann: Quarterly Report & Cashflow, page-44

Another negative with the OTC is just how cheap natural gas is in the US. Scott made comparisons to ReconAfrica's success on the OTC but they were originally an oil play that morphed into more of a gas play. I think Scott underestimated the poor sentiment towards NG in the US. Despite natural gas being priced locally, the investor's local pricing likely plays a big factor (illogically) in their overall view of the profitability of a gas project in another jurisdiction. Furthermore, due to the difficulties with natural gas transport, the idea that we are going to sell the gas to the local population likely didn't sit well with a lot of US investors.

For me personally, I initially somewhat dismissed the project and it was only after listening to Scott describe the local gas market opportunities that I became much more interested. Many US investors likely moved on once they heard "natural gas". Not sure if sentiment towards natural gas is similarly poor in Australia though.