Oil prices high oil price below 70

Now market oil prices down \blow 70 brealeven point

Jcc is cheaper than henry hub.

Extra supply at the moment but slowly but surely there will be extra demand. For that reason at this bargaining is on the buyer side.

CPC locked in GDF for 3 months. HOA is a must because they have been talking for a long time but there is

There is binding and non-binding parts. Exclusivity non-binding all the key terms of SPA such as diversion/take or pay. The parties will try their best to incorporate these terms.

Some of the issues*

If there is tight market then make it as binding as possible.

From pgn side we need supply from solid projects. Under construction or approved. In the future they may look at potential sources. From mozambiuye.

For cmeraon they have fid they have not been able to commit everything. JBIC term is that you have to sell to the Japanese.

Gdf is also interested in working with us.

For gdf they want to have the best deal because it is going to the first international binding sale and purchase agreement. Everything they do going forward will be used as reference as best market practice. HoA is considered a mjst because thye have ben talking for a lot. They have been no proof that they have been doing something. For internal purposes.

Some other activities related to this agreement. Request for import tax waiver. Depends on this agreement.

They want to work with us in Indonesia. Supply from US is very important to us.

GDF is pushing us.