Hosted by Maurice Brand, Managing Director and CEO. How often do you get to be intimately briefed by the boss??? Assurances given were compelling. This will be the last capital raising for Train 1. We are fully funded for Train 1. LNG Production Volume likely to be up to 1.75Mtpa(more than stated). At $40 per barrel oil price - $150 million per year (our share 40% ($60 Mil) At $80 per barrel oil price - $220 million per year (40%-88 mil.) Future expansion Train 2 - will cost less because all the ground work has been done. Could there be a Train 3 and 4????????? Start small and build up. Curtis Island a logistical nightmare - good luck to the others. Other growth opportunities - other locations in Queensland, equity shares in struggling tenement holders.
Main concerns - water problems with csg extraction, pipeline progress. All dependent on positive government approval/environmental ticks.
My summary. Deliberately understated to keep the powers that be pacified. Fisherman's Landing (position,position,position) is the key driver of success. LNG is a winner. $2.00 by March. As positive announcements flow to production $4-$5 by 2012/3.
LNG Price at posting:
$1.33 Sentiment: LT Buy Disclosure: Held
