SGL ricegrowers limited

Seamfiend, better check the agreements between SGL & AGL.The JV...

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  1. gasman9
    697 Posts.
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    25/08/08
    07:54
    Post #: 4142042
    Seamfiend, better check the agreements between SGL & AGL.

    The JV agreement with AGL gave AGL 50% of ALL SGL's leases. Camden , Hunter, the lot.
    Since completing that agreement SGL has not acquired any new leases which would be outside the AGL agreement.

    Under the JV agreement, AGL runs the JV operations business (located in AGL's office) and effectively 'signs off' and supervises ALL drilling across the existing leases.

    All the gas currently being produced (Camden) goes to AGL under existing offtake agreements.

    Could SGL negotiate an offtake agreement for Hunter gas with an entity other than AGL? Probably yes. But, if AGL isn't "happy" with the arrangement, somehow I can't see the JV signing off on the plans/drilling.

    Effectively, if AGL wants the Hunter gas if and when proven up, my guess is they'll get it.


    SGL Price at posting: 0.0¢ Sentiment: None Disclosure: Held
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