Oil macro analysis, page-8

Oil price down LNG gets hammered.

Oil price up LNG no impact. Why buy when you have BTAs and project viability concerns?

Caught in a twilight zone black hole at the moment, which the shorters would be loving.

The light at the end of the tunnel is the BTAs obviously. The market I think is also perhaps pricing in a potential capital raising given equity talks with Stonepeak ALSO remain outstanding no matter what management have said.

Management talked the talk very well at the AGM but they need to now walk the walk so to speak given the market has lost confidence it seems in the ability of management to deliver.