It was covered in the Independent Experts report back in...

It was covered in the Independent Experts report back in 15/9/08

Quote
It should also be noted that if reversion does occur, Tri-Star will have an interest in the permits (i.e. rights to the remaining gas) but no other rights (such as participating in the JV). The JV could purchase the gas from Tri-Star for the LNG plant.
Unquote

Having to buy 19% of 11,262 2P would be very significant but could Tri-star realistically sell to anyone else

Do you reckon that ORG would see ESG as a cheaper option to cover this possibility of 2140PJ short

Buying ESG at ~$1ps would definitely be cheaper

ESG could be a more willing seller than Tri-star and undercut them, with its touted optionality not crystallising as it hoped ?? $4/GJ ?

ORG could put out a tender for the possible shortfall and see how willing all the Sellers are

There seems to be quite a few conditions that have to be met before Reversion would occur - a big IF

It is a valid issue for the future and you wonder whether the JV might make the Texans an offer, but they be a pretty wily bunch seeing gas prices going up

I dont think Gastar is related to Tri-star but the "Star" part may be from the "Lone Star" state of Texas where O&G is the favourite pastime



Cheers