Ann: Reserves Update, page-20

Ahhh. When CTP has 'proofs', the market will capitalise.  As the future becomes more certain, prices will move. 

CTP intends to send 26.5Tj/d down NGP.   Maybe not its full allocation, but more than enough to fund engineering to add another 12.9Tj/d,  remove take-or-pay liabilities, pay interest and principal down and do some drilling. 

I don't suggest 40c by Christmas. It will be later.  The market cannot ignore actual, profitable production (CTP is already EBIDTAX profitable, $11m in FY18)

Like all holders, I have skin in the game here.  I think y'all have become so accustomed to disappointment and delay you cannot envisage anything else.  Well here it comes - a destination for every molecule CTP can suck out of the ground.  All produced from mature fields of known quality already connected to the pipeline.  

Meanwhile, Santos is funding Dukas and IPL the Qld permit. 

40c

Ash