Bomber,I see this as a pretty positive ann. MRM have a good...

Bomber,

I see this as a pretty positive ann. MRM have a good track track record with previous wharf extensions in getting them done on time and importantly within budget. Given the tight labour market in construction, this will be expensive and tougher to timeline manage - however Chevron may have some clout in expediting.

The upside benefit to MRM will be what additional integrated services they can offer Chevron such as vessel operations and other supply base services. I see this as unlocking significant value in what has historically been a low yielding asset for MRM.

Godd luck