Harbour Energy, page-108

Due Diligence completed.
On the basis of what they discovered during this extensive examination they have come back with yet an other dismal attempt to take over STO.

Since Linda has graced us with her presence a couple of years back, yes they have been looking at STO for ages. Any way since then the company has paid down an enormous amt of debt, oil prices have nearly tripled, more green fields have been discovered, the more mature tenures are ready to be tapped pending Government approval which is just a matter of time given the energy crisis we now find our selves in.
South East Asia, Eastern and Northern Australia are screaming for cheaper energy. South East Asia has not yet been touched.

The ships are sailing to Malaysia full of the good stuff, Pipe lines are being upgraded and new ones constructed, the price of producing has been cut so that an oil price of 40 pb will still yield STO with a profit which continues to grow as the debt is decreased. Sit back, open a bottle of good Scotch, put your feet up, relax, remember there is an election looming, this election will be fought on Energy, as I type people in the Southern States are freezing, people in the Northern States can not afford to turn on the air-con.

I very much doubt this federal government will let this be sold, I may well be wrong, I have been before and will be again. However if the Government does give Linda her way, then I fear many will jump the fence and vote for the commos at the upcoming election.

I do not believe Governments should interfere in Business in any way, but in this case many staunch lefty voters will stay left forever if the Government lets STO go and many on the conservative side may well go left if the Government is seen to be letting our best assets be sold to the Yanks and the Chinese.

Turnbull is between a rock and a hard place with this.
He might have to SAY NO TO LINDA.

PA31