Ann: Gas strategy delivering growth, value milestones approaching, page-25

Jake

From a commercial perspective STO would b better off acquiring Brookfield's net share in Reindeer & in Spar-Halyard-John Brookes gas fields. These are already generating Revenue in WA & in turn would beef up STO's cashflow.

Also, Santos sold their share in Kipper to Mitsui & the rest of the assets to COE. So I dont think doing a u-turn will go down well with their shareholders. In my view someone like Beach or Mitsui should be a suitable fit at Sole should COE wish to divest a portion at some point.

Noticed Exxon have lodged an application to drill 2 wells Baldfish-1 & Hairtail-1 (near their Dory prospect). Perhaps they may opt to use the Monarch at some point once COE completes its act on Sole 3, 4 & abandonment of Sole-2 & some BMG wells.

Some action on M/Traffic now. Supply vessel FAR Senator has arrived near the Ocean Monarch.