With all due respect, I have to correct you on 2 matters.
1. You say "it (APA) is the largest owner of gas pipelines in Oz and...."... Actually, APA is the largest OPERATOR of gas pipelines in OZ. The largest OWNER of pipelines in OZ is ENV.
2. You also comment "No franking but in pension mode who cares" Maybe I misunderstand but you seem to be implying that pensions, eg: SMSFs, cannot claim refund of franking credits. That of course is incorrect.
