longtom - "reduced production"?

From Company "Market Update" dated 28 March 2014

"On 12 March 2014, the Company issued a Longtom operational update that advised of the return to gas production from the Longtom-4 well, and the identification of the electrical fault as being contained within the Longtom-3 subsea facilities. At that time, however, further investigations were required to ascertain the cause of the electrical fault and determine the work necessary to rectify the fault, the time and costs that would be involved and whether it would be viable to carry out the rectification work compared to continuing with reduced production from Longtom-4 alone."

Note "reduced production" in last sentence. This is simply not true based on National Gas Market Bulletin Board figures.

Gasflows to Orbost Plant courtesy of National Gas Market Bulletin Board

Nov 2013 = 28 to 34TJ daily
Dec 2013 = 28 to 34TJ daily

March 28, 2014 (date of the Market update) = 34TJ

29/3 - 34TJ
30/3 - 34TJ
31/3 - 34TJ

Last 7 days flow = 27.6TJ to 34TJ daily (only two days at the lower flow)

Why are Nexus management then saying:

"In the event that Nexus does not carry out any rectification works at Longtom-3, the loss of revenue and associated implications under the Longtom Gas Sales Agreement would result in a negative net present value (NPV) adjustment of approximately $18 million, taken against the carrying value of the asset as at 1 January 2014."

What loss of revenue? Longtom-4 is producing at the required and historical rate.

We note prior to the amended GSA it was producing at 46.6TJ/ daily.