greater sunrise deal prior to 23 feb, 2013, page-31

hi all

any thoughts of meo approaching the market in q1 explicitly seeking jv / equity partner(s) in TS??!!!

I know and understand and appreciate locking in demand as opposed to build it and they will come approach. However, formal EoI demand has proved to be circa 5 times TSMP1's capacity of 1.75MTPA and MEO is in the process of finalising those 'lucky' methanol buyers. So 101, the formal and real demand has been proven and MEO is looking to lock in the best, strategic and stable methanol buyers to establish an MoU and forward contract(s).

So the obvious front runners are ENI (ES, Heron, Blackwood) and Woodside (Greater Sunrise), and Shell to a less extent (ES).

But the real front runner, imho, and really big spender in the region in 2012 is SK E&S!! By way of support please see cut and paste re recent SK E&S investment in Barossa and Caldita all with high CO2 perfect for Methanol.

My last post for the year, but re SK E&S - watch this space!!

Barossa (NT/P69)
The last well drilled in the permit in 2006 tested 16% CO2 gas. In June 2012 SK E&S farmed into both NT/P69 and NT/P61 earning up to a 49.5% interest in both permits for funding up to US$520 million in carry obligations and contingent milestone payments. Three appraisal wells are planned for 2013.
Caldita (NT/P61)
The last well drilled in the permit in 2007 tested 13% CO2 gas. In June 2012 SK E&S farmed into both NT/P69 and NT/P61 earning up to a 49.5% interest in both permits for funding up to US$520 million in carry obligations and contingent milestone payments.SK E&S