Ann: Oil Search acquisition in Alaska - Presentation, page-2

Bravo Peter, BRAVO!
Strong existing free cash flow generation from producing assets
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Current total liquidity is ~US$2 billion, comprising US$1.2 billion of cash and US$850 million of undrawn corporate facilities
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Sufficient financing flexibility to fund both the development of LNG expansion and Alaskan projects:
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Both Alaska and LNG expansion developments to be funded with project financing (same as PNG LNG Project)
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PNG LNG Project debt is being paid down over the same period
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Gearing forecast to remain well below lenders’ covenant in the 40 – 45% range during the development phases including PNG & Alaskan projects
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Flexibility exists to wind back exploration spending if needed to prioritise the development of these world class assets
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Discretion to exercise option and on-sell enlarged interests post appraisal, to reduce development expenditure if in the best interest of shareholders
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Based on current oil price and project development cost forecasts, there is adequate capacity to fund these developments without raising additional equity or impacting our dividend policy

I was actually the takeover of a different asset early next year, but this one is definitely as good. The other one still may happen next year.