mosaic still on track for 2010

whilst MOS SP is struggling (still), it appears that the MOS mgt are working diligently to fulfill the objectives they detailed at the AGM.
1. fraccing of the wells in Churchie and Waggamba will commence soon
2. intensive drilling program outlined a t AGM to commence around March
3. looking to increase the production of oil and condensate to take advantage of current oil price
4. prove-up further eserves in Churchie and Waggamba
5. looking to double revenue in 2011
6. UGS project still be investigated. Capital intensive. Various parties in discussions - many scenarios.
Note: UGS appears to be viable and needed for GLNG projects. Santos says "Ramp Gas Strategy: Roma gas storage is integral to ramp gas management and supports gas supply optimisation."
Slide 73 shows storage acreage all around Roma and Wallumbilla - so once Santos gets serious and some FID are committed, the UGS project should get more serious for MOS.

Refer slides 71, 72,73 http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01021262

cheers