charts, page-71

Thats right Subah

The payment is due 25 Dec and they ar eraising the money.

FIRB approval for the purchase has gone through and they did indicate in their Sept 3 Earnings Summary:

'Evans Shoal (NT/P48): Magellan is working towards the completion of the Evans Shoal acquisition with a payment of AUS$85 million to Santos due on December 25th, 2010. Evans Shoal contains up to 8 TCF of natural gas (including CO2). Its production will supply a proposed world-class methanol facility in Darwin Australia and, possibly, floating facilities offshore. Discussions with off-takers and financial partners are active and positive.'

As you say, 'All options open' and will be looked at before the final payment. Darwin is the preferred long term solution but perhaps the additional off-take (supply) to Tassie will be in the mix for earlier income.

#:>))