The pipeline has to be a part of their strategy as they have to...

The pipeline has to be a part of their strategy as they have to be able to get gas to market in the most cost effective manner. I think it's great, taking a punt on funding the advance work so that key approval bottlenecks are removed ahead of any possible discoveries. It should save them at least a year or two in converting a discovery into cashflow. It's really no less risky than the general business they're in, and as part of the Comalco deal they need to be able to hook up to the Dampier-Perth pipeline I believe. Then it's take or pay from my understanding, and Comalco as one of the foundation pipeline customers are able to decide where they source their supplies.

Not often we see such forward planning, but a decent discovery/appraisal would be really handy. We just need one good discovery to serve as catalyst and I really believe tey'll be on a roll again. And the current low price is crazy, and will be seen to be in the not too distant future.