I'm not sure why we're speculating about a t/o. I would have...

I'm not sure why we're speculating about a t/o. I would have thought if there were that other party hovering around then they would have emerged last year when Petrochina was stuffing us around.
Now I have stated that you can probably be sure we'll get a t/o in a matter of days :)

The point is we don't need that to happen to see the sp back up around 50c. All it will take imo is a binding agreement to supply 30tj/d at something like $6 or $7 gj.From that point on we should be able to access further capital to build out the field based on the projected revenues. Current production cost is about $2 gj (hoping to get that lower) so that is 15 tj's (our share) times 365 days times $4 (worst case) = earnings of roughly $22 million. Given the offtake guarantees revenue I think it is reasonable to apply a p.e of 15 so our 2015 valuation should be around $328 million which is 73 cents p.s. Once the market can see this in the offing then surely we'll be re- rated to that 50c range.