I don't think any of the Majors have a real need for gas at...

I don't think any of the Majors have a real need for gas at present.

Molopo's holding is too small to be a player in anything but domestic sales or as a part of a consortium supplying a small train like LNG's proposed fishermans landing.

Santos have conventional reserves they can draw on. QGC and Origin look to have booked their requirements. Arrow may be a little short if they can't prove up more but in no way look desperate at this point.

Any sale of CSG assets right now would be a fire sale. There is increasing uncertainty around the strategic cropping land initiative and carbon taxes.

All said and done these guys are cheap as chips given their cash and share holdings. We can only hope that in the last three months that they have not been sitting around just looking at maps. If they have contracted some rigs and start drilling a few good holes in the next month or so I think people will look on them more kindly.

If we have another Spearfish and Bakken Fiasco where everyone waited and waited and wited some more to hear that targets were not going to be met.... well.... might as well wind the company up.

Gaz