Put simply the Glenaras pilot is proceeding steadily and the...

Put simply the Glenaras pilot is proceeding steadily and the chance of ultimate success is progressively being de-risked.

Since shareholders are looking at a very high probability of "Cracking the code" IMO the next area of focus is the transaction value of the tenement following a successful extraction pilot.

The two major components I am keeping an eye on are the pipeline to market and the future trend in Wallumbilla gas prices.

Jemena has just appointed Frank Tudor as their new Managing Director and we wish him every success..


A really good insight into forward gas price expectations is provided by the following ACCC report Gas Enquiry Interim July 2018 Interim Report.


https://www.accc.gov.au/system/files/Gas%20inquiry%20July%202018%20interim%20report.pdf

https://www.accc.gov.au/regulated-infrastructure/energy/gas-inquiry-2017-2020/lng-netback-price-series

Extract...

"After significantly exceeding export parity prices last year, gas prices for 2019 have now converged with expected LNG netback prices at Wallumbilla"​

And FYI

​

The following are some extracts from my notes:-



Regards

OGP