Ann: Senex and GLNG amend WSGP gas sales arrangements, page-11

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tui

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11/09/18

15:47

Post #: 35525762
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Originally posted by tt2000 ↑

It is very likely that FID for the full 50TJ was not going to be approved at GLNG's contracted price.

So SXY split into two deals - 16TJ for which FID can be approved, and the remainder to be contracted at a commercial rate (with which GLNG is able to match - hence the last right of refusal).

From GLNGs point of view, they had to accept it as SXY had a condition precedent to the agreement, being FID, which wouldn't have been approved for the full 50TJ.

This should just about ensure that FID is reached soon for the 16TJ, which is probably what is holding up financial close for the financing.

I think (and hope) we will see this imminently now, and hopefully some answers to what we are all awaiting (FY19 outlook etc.) If this occurs (and all information is postivie), then I agree with pac about launching into orbit.

Patience is needed - but mine is at breaking point, especially with ID, who I am convinced could have got this launching sooner...

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tt2000,
That makes me feel a bit better. I knew there had to be a reason why those 3 Directors topped up a few weeks ago. Gas is going to get tighter and I think that this deal will be a lot more commercial for SXY. ....... Plenty of gas activity coming up for Senex.

Let's hope that we are all happy when ID releases their forward plan.

SXY Price at posting: 44.8¢ Sentiment: Buy Disclosure: Held
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