Daytr, I think you underestimated the BIG profits that STO is going to make from the 1st lng cargo. You should look at ORG report as a proof. You should also look at Energy Quest report as a fact as well.
STO, ORG and Agl have been acummulate cheap local feed gas since last year. CSG ramped up made local gas looking dirt cheap.
Agl could deliver a cargo last couple of months. IPL reported a 6 millions lost in FY 2015 and It could double up in FY 2016 due to higher gas price.
I believed that Agl could made profits at rock bottom price because local gas price was average at 50 cents/tonne compared to the the cheapest spot price in US Henry Hub at USD $2.00 and Singapore Usd $7.50 per mbtu.
Japan spot price is getting cheaper now. But I'm sure it's higher than Singapore spot price.
Wpl delivered a cargo to CHINA state owned company at USD$3.6 while the spot price was at $6.00 in last year.
I'm not sure which spot price is the base price for STO but I can guarantee Sto could make big profit regardless the current oil price.
Sto cheap assets produce cheaper gas prices compared to Wpl.
Regarding to the poo, I think it's related to debts but the gas sale is made in USD so STO could make profits out of cheaper contracts in AUD.
I want to know how many cargoes will be delivering. The number of sales could multiply by the bigger profits.
But the profits will be announced in STO next report so I'm eager to wait for that time.
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