worlds largest lng importer to come onboard, page-4

freespins,
I would hope that Blue will be up coring at ATP814 sooner rather than later. I would expect that we will have some results pre-christmas. It is hard to imagine that with this extra cash they wont be trying to hit those targets.

In trying to understand the moderate market response to the deal, it would seem there are still quite a few details to be sorted out and we should remember a few things, namely that it is only a HOA and that the farmin details are yet to be finalised for 813/814.

The 3 month negotiation time frame they have on the farmin looks to be a good move. Hopefully they can get some good terms and conditions for the farmin and not have to sell their souls-like some other companies such as VPE have when they farmed in with QGC.

The ROFR as I understand it means that if they can drum a better farmin offer with a competitor, that KOGAS still have the option to take the terms and conditions of the competitor and win the farmin. A good call by management, especially if there was more than one party interested in the blocks.

Eitherway, they (KOGAS) are one step closer to becoming a major shareholder and we can expect our MC to grow by 10% at the end of the SPP... only that growth corresponds directly with an increase in cash.

Happydays,

SF