eni upstream seminar oct 11, page-9

Thanks for the link mrmoshe

I missed the journo Q&A the other night.

The gentleman who Claudio Descalzi handed the question over to is Massimo Mondazzi, the EVP for Central Asia, the Far East and the Pacific.

I feel there is a lot of discussion going on behind the scene. Especially re Tassie Shoal.

MEO have made a point in saying they still have 100% TS and made the remark about a pipeline from 454P. Eni have now countered with the talk of a possible extension of Bayu Undan.

MEO have a market for the Methanol and LNG is the next biggest export out of Oz. Will 25% NT/P68 (Heron and Blackwood) plus a share of 454P (post farmout) be enough to support the argument for funding and gas supply for TS.

Or will it be a MEO/Eni JV for TS. I feel it may depend on the quality and quantity of gas at Heron. Could it be MEO with a greater share of TSMP and Eni the greater share of TSLNG.

Interesting days ahead leading up to the AGM.

#:>))