STO - BUY IMO, page-113

PRODUCTION not equal to "RESERVES" ................

as previously stated - GLNG does NOT have sufficient production to fill its own trains ......it doesn't have enough gas to fill ONE TRAIN ...............

the WHOLE PROJECT was built on the premise that STO would supply the additional gas from its own portfolio, and gas from 3rd parties ......in addition, STO has bought gas on market .............

I wonder if there are any clauses in the supply contract for non-delivery ..................

this thing will get "dealt" ...............at the bottom of the cycle .....................at nil premium .................to a consortia of china-inc / shell and probably Macquarie ...........

all b/c the Board signed off on the above contracts .............

now - just imagine what happens to debt inside of GLNG ......if the bankers were to get slightly nervous .............

can you spell cap raising 101 .................

rgds
V_H