The past volatility doesn't determine the future. The engine...

The past volatility doesn't determine the future. The engine room of Horizon (PNG, China and NZ operations) has never been stronger and provides strong fundamentals along with paying down debt. These fundamentals will only get stronger with exciting developments in China to come. In my opinion, there is a floor under the SP and it won't go under 11 cps again. On the other hand, there is blue sky potential, Pox will cave into Repsol, Osaka and Horizon on the Stanley nonsense before the long, sovereign risk is the last thing PNG needs. The WLNG is essential for PNG's economic and political agenda and we can expect a re-rating of the SP when it happens.