Justace, It's probably the biggest lull in news flow we've had...

Justace,

It's probably the biggest lull in news flow we've had so far. Nothing has really come out since 27 August when the Bear Head acquisition was finalised, and even then the market has very little information about Bear Head to assign much real value to it. The other big piece of news: the likelihood of a 3rd NA project doesn't really seem to have been picked up by the media - nothing apart from the Bloomberg report has come out. We're also getting down to one of the serious stages in the timing of Magnolia which is probably unnerving some of the market given the run we've had to date. To me, this says we may continue to drift and even continue to fall a bit more in this period, but I'll be very surprised if we don't rebound very hard when the next piece of big news comes.