"Based on its available cash on hand, and the expected liquidity to be generated from the Company’s Australian and U.S. operations during the remainder of 2010, the Company will need to raise additional debt or equity financing from third parties to complete this acquisition. The Company is currently working towards new equity financing options to raise sufficient funds to complete the Evans Shoal acquisition and its other requirements for capital resources over the next 12 month period, which are estimated to be approximately (AUS) $85 million. In the event the Company is unable to make the required payment on or before December 25, 2010 or to extend the time, under certain circumstances the Company could lose its rights to the (Aus) $15 million deposit."
wright.bozo. LNG is where the money is. That's why there are over 200B of LNG projects being built in Australia as we speak.
If the gas is stranded and too high in CO2 or if the economics simply don't warrant monetizarion for LNG then methanol becomes an option.
The world is awash in natural gas. Just look at prices. And this has led to an LNG GLUT as well. The shale gas revolution and new drilling technologies are responsible along with global credit crunch etc.
Evans Shoal didn't work out for LNG because the gas has high CO2 content. Santos wants to unload the property. That's why they're willing to sell it for relatively short money to American penny stock Magellan Petroleum and their related party Russian sugar daddy.
Still waiting for all of you Sybilettes to explain why Santos agreed to the extension. How about something recent and of substance--not like the substance you Sybilettes abused throughout the night tonight, based on the inane blather you have been posting.
Take the time to read over your idiotic posts tonight. You have truly lost what little sanity you may have dormantly had.