Interesting article. Rich may have been the 'architect' and...

Interesting article.

Rich may have been the 'architect' and driver of the PXA deal but, for it to have proceeded you would have needed at least 2 members from the QGC Board to approve the transaction. Hence clearly there is at least one other member on the QGC board that is quite positive about the prospects. Something the journalist has forgotten to mention (or had no idea about).

I wouldn't get too concerned at this point. Journalists love to sensationalise situations and I doubt Paul Garvey knows enough about BG's corporate 'exploration objectives' to state they are not aligned with CTP's in the article.

Put simply I believe it's safe to assume BG's exploration objective is to produce gas and make money? They may not have a preference for UCG technology as pointed out in the article (which I believe is the main concern he is trying to point out) however standard CSG exploitation is still an option from the package.

I think the article is more to do with sensationalising the fact Rich is moving on - and given CTP has only recently featured in AFR it was an opportunity for another article tied to them. Then again, maybe he knows something others don't?

Even if BG were to stall on negotiations - as mentioned CTP have enough cash in the bank to drill some of the other targets and put the CBM wells aside. I personally don't see any value in drilling CBM without a partner.

With $31m + another $74m in bond facility, one would think that is more than enough to drill a few conventionals.

All IMHO only.