I think this analysis misses the point - and I am not being...

I think this analysis misses the point - and I am not being dismissive, OGP.

CTP has gas and a tiny customer base. Over at Mt Isa, IPL will take every molecule CTP can push down NGP once it is built so it can switch its Phosphate Hill gas contracts to supply Gibson Island so it doesn't die. IPL is a very, very motivated customer and will pay fairly.

For CTP, the uplift is from trapped gas to NGP's capacity. Whether it sells for $8 or $10 is just the cherry on top.

RC is waaaay more ambitious than this. He wants to prove enough gas to prompt the construction of the Alice to Moomba gas pipe.

I'll back him.

Ash