Form 10-K: Dingo Gasfield only 18 Bcf NOT 30 Bcf as reported by CTP!, page-6

"Australia - Amadeus Basin In the Amadeus Basin, located near Alice Springs in central Australia, Magellan owns 100% operated working interests in two gas fields, Palm Valley and Dingo. Palm Valley. Palm Valley was discovered in 1965 and has been reliably producing natural gas since 1983. As of June 2013, the field has produced a cumulative total of 158 Bcf of gas. Through its direct connection to the Amadeus-Darwin Gas Pipeline, Palm Valley is able to meet the needs of its potential customers in Darwin, Northern Territory, and the mining operations adjacent to this pipeline. In 2011, Magellan entered into the Palm Valley GSPA with Santos whereby the Company has the ability to sell up to approximately 23 Bcf of natural gas, representing the majority of what the Company believes are the field's remaining gas reserves, over a 17-year period which began on May 25, 2012 to Santos, which onsells to third party customers. To date Santos has future sale commitments estimated at 11 Bcf of this gas. The deliverability of gas from existing wells and the firm sale commitments are crucial elements in determining the reserves that can be booked as proved reserves. Dingo. Dingo is a gas field discovered in 1981. Four appraisal wells drilled between 1981 and 1991 established the field's resource and production potential. Magellan maintains its interest in Dingo through Retention License No. 2, which expires in February 2014, and is subject to renewal for a further five years. The Company has initiated the application process for an operating license that will allows us to maintain production for a 20-year period once received. Until recently, Northern Territory gas market dynamics have prevented the development of Dingo as a producing field. However, Magellan has entered into the Dingo GSPA with PWC for the sale of up to 31 PJ of gas (30 Bcf) over a 20-year period. Sales under the Dingo GSPA are expected to commence early in calendar year 2015. In the intervening time, Magellan will be focused on obtaining permits and licenses to commission Dingo for commercial production, completing the design, engineering, and construction of the surface facilities and the 30 mile tie-in to existing pipeline infrastructure. As of the date of this report, the Company has initiated the various permitting processes and expects the construction phase of the project to commence at the beginning of fiscal year 2015."