Fraccing Moritorium, page-6

Hi MJM23

This thread is not intended as a challenge to what you said.

You might note that I introduced my remarks with the words "I hope he is right". I then went on and reflected on the impact on CTP in particular if we weren't so fortunate as for your prediction to be vindicated.

All I was trying to say was, throughout the medium-term (which I consider will be very prosperous) CTP would be the producer least affected by a moratorium on fracking.

I guess I should have qualified my thoughts by saying what you have now said; that is CTP would be least affected unless – perish the thought – Jemena did not go ahead with NGP.

Sorry for that, I simply did not think of it. Now I have turned my mind to it I very much doubt that it would be the case. I think the builder knows that it has guaranteed traffic from the territory government and CTP which can justify the construction of the small pipeline.

Again, whilst not wishing ill fortune for other explorers, that would play into our hands also. We are ready to go; nobody else is.

With a small pipeline and our company one of the first 2 book space on it isn't it the case that our competitive position is even further enhanced?

Armour Energy is one that may mobilise reasonably quickly. I would be concerned about it if it were not fracking dependent; but it is. It is an obvious casualty of a moratorium on fracking.