crossroads, page-12

On another matter - Origin wants to sell down it's equity in it's LNG facility (7%). Another partner also wishes to do that. WPL could pick up 15% potentially. Now whether they want to be part of the QLD LNG rush or not is a matter of conjecture.

The problem for WPL there is they have absolutely no CSG experience in the company so they would have no way to evaluate the opportunity, and no way of knowing if they were buying into a dud. I suspect this would make them think the risk is too high and take them outside their comfort zone.

That's before you add the negative press associated with CSG on top.

Which in some ways is a pity because a 15% stake in APLNG cost Sinopec $1.7B which WPL could easily afford, and 15% of 8.6 Mtpa is an extra 12.3 MMboe, without WPL having to take on any of the work as operator. That would boost WPL's production by almost 15% without distracting them from Browse/Sunrise/etc.