new offer likely, page-10

Kogas is indeed a very big player in the LNG international market. They are looking to invest further in Australia having already, subject to special coditions, taken a share of BLUE ENERGY ( BUL ).Both Korea and Japan are almost totally reliant on imported energy and see Australian CSG as a politically stable and proximate solution to their energy problems.

Nick Davies will walk away from this ridiculous 'deal'. I would not be surprised if BG had a crack at it. BG describe Gladstone as the Jewel in their Crown. And remember they know the gas market backwards and have energy investments in Brazil ( oil ) USA ( shale gas ) and now Queensland. They are buliding a long term gas model and if AOE is going cheap then they have the cash to say bye bye Shell/Petrochina. And I bet Rudd would rather have BG on board....

BG could swallow all this and be set up for decades to come.