looks like any potential Malt plan to sell the Galilee assets to...

looks like any potential Malt plan to sell the Galilee assets to AGL has evaporated. AGL has just written down its carrying value of its 50% of the JV to 0 (from AGK annual financial report):

AGL has a 50% joint venture interest in ATP 529P with the other 50% held by Galilee Energy Limited (GLL). During
the year a parcel of approximately 16.1% of the shares in GLL was exchanged at less than the value of cash reserves
held by GLL, indicating that the interest in the ATP 529P had no value. AGL conducted a carrying value review of its
interests in ATP 529P. After allowing for technical and commercial uncertainty associated with the ongoing exploration
program, AGL considers its interest in the joint venture has negligible value.
Year ended
30 June 2013
Pre-tax PAT
$m $m
Galilee (49.9) (34.9)