I've been watching all the talk about offshore renewables by...

I've been watching all the talk about offshore renewables by Triangle and Pilot. I'm working with onshore hydrogen.

Triangle and Pilot seem to misrepresent their rights to undertake an offshore renewables project in their offshore WA-481 and Cliff Head permits. The truth is that they have no rights. These permits are for oil and gas exploration (WA481) and oil production (Cliff Head). They have no rights to go and installed wind turbines and subsea cables.

The truth is that the Australian Regulator has not yet even started releasing offshore permits for renewables (except one location in Victoria).

So anyone that thinks Triangle or Pilot have some value here because they have offshore hydrocarbon rights is just misrepresenting things.

Putting the misrepresentation aside and then thinking about reality. There are many many onshore projects being touted. Murchinson Station H2, Infinite Blue Energy, Strike H2. All are onshore and those that reach approvals will take advantage of plentiful cheap land.

Noone is even thinking of putting wind turbines in the ocean. Even if you could get the community, fishing industry, environmental regulators to approve such a concept, the economics just don't work.

It is time to face facts and stop misrepresenting the truth. Cliff Head is an underperforming uneconomic hulk that has burned up shareholders money keeping executives well paid. The offshore renewables story touted by Pilot allowed them to get some money from investors. Cliff Head will run out of oil and be a rusted hulk before any offshore wind project is developed.

Unfortunately the poor shareholders will be left with a company with no money to decommission the facility. Just like triangles large shareholder Tamarind in NZ, they will walk away from their commitments.

Ive seen shareholders stay with this misrepresentation long enough. You must have seen your share price tumble as more and more capital is araised to keep the facilities going when they should be shut down already.

Anyone who invests in this misrepresentation is just plan silly