article in resource stocks, page-13

Hi EL

Yeah i like the idea of generating cashflow via a TOLL to the other JV partners. Very easy money for no additional capital requirement on ARQ (except for development costs). I suspect that this would be the optimum scenario if only Frankland comes in and ARQ can only keep a small interest. But it doesn't sound like the other major players in the JV are too interested, maybe that will change depending on the outcome of Percerverance and Dunsburough.

Spoke with Eric recently and he sugegsted a single sub-sea tie in well would likely only be required, but as you say its the pipeline that can contribute high costs.