i just can't believe it, page-8

Jeez so what, its called the GFC, I can say wow Mac Bank hit a hundred dollars or RIO hit $140 and lament what happened.

The critical issue is where is the SP going from here.

Bit hard for PH to do a GSA deal during an 18month, YES READ THAT AGAIN, 18 month moratorium on CSG while FAT BOF sat around building in his words a worlds best practice regulatory regime which he then BLOWS UP in under four months later with his latest clanger.

All to win votes in Western Sydney for the upcoming Federal election.

At 11c the market has priced in absolute armageddon. We are still waiting for regulatory detail while again FAT BOF dillys and dallys, but really it cant be bloody good for any GSA deal negotiations right now having this whole new regime hanging over our heads.

People this is what sovereign risk looks like.

I hope in the end a common sense approach is undertaken and somehow FAT BOF finds his spine and comes out asap with a sensible and detailed policy. Chris Hartcher looks like someone who knows what industry and the NSW economy needs. Maybe BOF less time in the gym and more time reading up on the science of CSG.

And if common sense and sanity prevails, and you let business do its thing and get a GSA signed, then goodbye 11c forever.