re: Ann: AOE: Project Restructure To Give Arr... RBSmorgan have...

re: Ann: AOE: Project Restructure To Give Arr... RBSmorgan have offer a part answer to my question:

"What the deal means for AOE?

Fisherman’s Landing LNG project is a critical component in AOE's ambitions to transform from a domestic CSG producer and supplier into an integrated LNG player. We have been concerned that LNG Ltd would find it difficult to attract the level of funding required to build the first train. If
LNG Ltd failed to attract funding, the entire project would have been at risk of failure.

The announcement of revised HoA terms suggests AOE may have had similar concerns. In order for the project to remain on track, AOE has taken on a much larger stake in the downstream development and reduced LNG Ltd's funding requirements. Previously, AOE had an option to acquire a 20% interest in the LNG facility; this HoA will see AOE funding about 75% of the downstream development (assuming a 50:50 split in costs between InfraCo and TrainCo).
Therefore, the HoA does three things:
1. it reduces the funding risk relating to LNG Ltd;
2. it increases AOE’s level of funding required to get Fisherman’s Landing off the ground; and
3. it increases the chance of Fisherman’s Landing Train 1 proceeding..."