Barossa/Caldita, page-4

if barossa and caldita somehow find a cost effective way of dealing with what is now estimated to be up to 19% CO2 and do end up going to DLNG as back fill - well great as that leaves ES all out on its own with 60% even more CO2 (and 4 times the resource size to barossa/caldita combined) and 30 years to wait as further back fill....

TS has a backer - the parties MEO is representing are just seeking sellers of the gas - not the $1 billion dollars to build TS - all that is needed is for the ES partners to agree on a price to sell their gas to the TS JV partner(s). What would be great is for the TS JV lead partner to buy out Shell's ES share. Remember Shell is selling ES, imho, as there is no other commercial option other than TS and TS does not align with Shell's business model - period. News on this front will just come out of no where and the SP will rocket. long time coming i know, but is closer than it has ever been as region is very active - barossa and caldita jv partners have a vested interest in sending gas to dlng and also have first dibs at sending any back fill to dlng as they are majority owners. es only has eni as dlng partner and eni is a minor sh of dlng.

Now that 454 cash flow exposure has been put on hold for several years, MEO has plenty of time (and funds) on its side. expect next news to be US company to step up and take a big share of Cuba and fully carry MEO and for PTTEP to be announced as JV partner for ACP blocks (noting PTTEP looking to make FID re FLNG for cash, maple and others) as well as pttep increasing equity to do 3d for 488 (if nothing more than a punt for the 1 billion barrels of RECOVERABLE oil) imho

Next quarterly out in no more than 2 weeks.

Mosman offer now a no longer a joke but rather embarrassing.

Adl