Ann: AGL Energy Decline Parachilna Earn-in Option, page-5

re: Ann: AGL Energy Decline Parachilna Earn-i...
In view of the general renewable energy environment at the moment it is not so suprising that AGL has elected to potentially support just one of the two project agreements it has with TEY. The one that gets the tick is the one which gives AGL the right to earn 75% equity (the Barossa project) rather than 50% in the Parachilna Project. Furthermore, at Barossa even the shallow hole drilling has not yet commenced which gives AGL more thumb twiddling time to see what ETS might eventuate.

I feel a bit churlish making this comment but it is also possible that AGL does not want to put all it's irons in one fire when there might be another hotter one nearby.

Juke