Form 10-K: Dingo Gasfield only 18 Bcf NOT 30 Bcf as reported by CTP!, page-8

242's back to his old hysterics I see.

Reserves change over time. Anybody can see that using 1996 Reserves figures for 2014 is not a good idea. Reserves, particularly in marginal fields, are heavily dependent on the gas price and even a small increase in gas price can double or triple Reserves.

Dingo may not have been commercial in 1996 due to the high cost of drilling the wells, but that is completely irrelevant, because the wells are already drilled - they are sunk costs. What matters is that the project is commercial going forward, which means it just needs to be economic to build the pipeline.

Dingo also couldn't have 1P Reserves by definition, because 1P Reserves need to be developed. There is no pipeline to market so no 1P. All they need to do is connect a pipeline and they will have 1P, because the wells are already there.

Does anyone know what amount of gas, and at what rate, CTP needs to sell to break even on the macquarie loan?

I don't, but I'll tell you someone who does - Richard Cottee. He would not have entered into the deal at a loss.

I for one am not at all worried about the gas. It's a low yielding asset but it's the lowest risk asset CTP is ever likely to see.