POO is AUD$70, page-194

Another comment I put on WPL

Duke-the-Dog

Although I think the future for oil is poor I believe the future for LNG is very bright.

A lot of posters on the TAP forum think Tap's gas reserves on the NW Shelf are not valuable. Here is a post I made on the thread.

Because of the low oil price and its effect on oil linked LNG contracts decision on new projects are being delayed and projects even shelved. Peter Coleman (Woodside) and others are predicting a big shortage of LNG supply in a few years because of these delays. It has also been said that LNG suppliers will be able to name their own price and break the link with oil price "and they will be merciless" .

Russia's Yamal LNG sees global liquefied gas deficit by 2018

af.reuters.com › Home › News

Feb 10, 2015 - Yamal LNG to issue $4.6 bln worth of bonds * Sees global LNG shortage of 50 mln tonnes by 2020 MOSCOW, Feb 10 (Reuters) - Russia's Yamal LNG projec


Of course this fact won't have been lost on the "big boys" so they will see the value of NW Shelf gas reserves (cue UZNBUZ). Apparently Brookfield is still looking at Apache's NW Shelf assets and it has been suggested they are worth around 3B USD. If a sale went through there then maybe TAP could unload their % interests as well.

Apache still in talks on sale of Australian business

www.smh.com.au › BusinessDay › Mining and Resources

Feb 13, 2015 - US oil company Apache is keenly pursuing the sale of its remaining Australian ... shelved the planned spin-off of other international assets after the slump in crude prices. ... the attention of a Macquarie-advised group including Brookfield and Alcoa.

I agree with you it is time the long-suffering Tap shareholders got a return on their investment and if they sold NW Shelf assets the proceeds should be returned to the shareholders. After repayment of Manora debt then proceeds should also be paid to the shareholders. I can't see the point in looking for more oil offshore Myanmar as we probably wouldn't be able to sell it anyway. Maybe after Manora is drained Tap should be wound up! There is no future in oil and I think LNG is for the big boys................


COLUMN-LNG buyers should be wary of getting what they ...

www.reuters.com/.../column-russell-lng-asia-idUSL3N0UU2002015011...

Jan 14, 2015 - ... Jan 15 (Reuters) - Asian buyers of liquefied natural gas may come to view the plunge in oil prices as a case of be careful what you wish for, as you may get it.