Raymond James March 14th

[kommonsents]

I may be of dissenting opinion but to me it makes no sense to sell has to pnglng if we are pursuing a greenfield LNG project in the gulf. The more trains at a gulf LNG plant the more profitable it is. Why build two when you can build three. With that I do think that it makes the most sense to just expand png LNG with train 3,4,5 and have participation in that. Most economical and speediest.

I agree, Cyber, with the possible exception that it may make more sense to simply concentrate on building a greenfield 3 or more train LNG plant for the IOC partnership.

I see roughly a one, possibly 2 year time difference between expanding at PNG LNG versus our own LNG plant.

Unless Exxon et al can match the ownership of the LNG plant to the IOC partnership, I believe it is simply best to build our own.