Jake in your post above re the Santos Port Bonython hydrocarbon facility, you had a ? next to the "Delhi 20.1%" ownership. Beach Energy bought out Delhi, or at the least their Australian assets, a few years ago for about $600million from memory. Stuart Petroleum STU also have a site at Port Bonython for which they are advancing plans to build a diesel distribution facility which will service northern South Aust. industries and transport needs. I think perhaps they are seeking a JV partner, like Olympic Dam and Prominent Hill miners [BHP and Oz Ltd], after Scott Transport pulled out of the project a year or two ago. The PB port apparently allows much bigger oil tankers [deeper draught] to offload diesel fuel than the Port of Adelaide does and of course is much closer to northern SA. this link below shows an aerial view of Port Bonython and the current Santos operated facilty. http://www.stuartpetroleum.com.au/content.aspx?p=103 "Port Bonython is currently the only suitable deep water port in the Northern region of South Australia that is capable of berthing ships carrying in excess of 100,000 tonnes and offloading hydrocarbon fuels. This provides significant logistical advantages over the Port of Adelaide, where ships are limited to a maximum of 28,000 tonnes. Port Bonython is located approximately 380kms by road to the north west of Adelaide, and therefore will reduce the environmental pollution and infrastructure demands in the metropolitan area."
The project has been awarded "Crown Sponsored Development" status which indicates the importance the State Government places upon this project. The State Government approved the sale of a 74 hectare parcel of land in May 2009 to Port Bonython Fuels and approved, the Development Application in January 2010.
ICN Price at posting:
23.0¢ Sentiment: None Disclosure: Not Held