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InterOil from the boards

April 26th, 2011 · 1 Comment

More interesting stuff, in a new format..

  1. The Japanese company will finance the condensate stripping plant project
    for a 10-year tolling agreement with a fee of about
    $35 per barrel. With EWC and Mitsui being responsible respectively for funding the LNG and condensate stripping plant, InterOil’s capital expenditure is greatly reduced, leaving it to find $25 million for the jetty and possibly a further $150 million for the pipeline between the condensate stripping plant and LNG facility.
  2. This essentially means EWC will be investing $910 million (to fully fund the plant) in exchange for 217 billion cubic feet of gas. InterOil, Liquid Niugini Gas and EWC have a binding heads of agreement whereby EWC will construct a 2 million tonnes per annum modular LNG plant at a capex of $455 per tonne of LNG production.
  3. “Discussions are ongoing with various offtakers with and without equity participation,” says Aldorf, without naming names. He says that an offtake agreement is “not strictly necessary” to achieve final investment decision for the first 2 million tpa.
  4. Liquid Niugini Gas president Henry Aldorf says the Equatorial Guinea Alba LNG project is a “blueprint” for the Elk-
    Antelope project in Papua New Guinea, pointing out that the condensate and liquid petrol eum gas production eliminated the need for project finance.
  5. “It’s a very important part of our project plans. Essentially we are offering the opportunity for companies, the floater builders, to test FLNG in a sheltered bay environment with no harsh seas and not in a cyclone area that could mean having to disconnect [in bad weather],” says InterOil’s vice president capital markets Wayne Andrews. Equity would be on offer to FLNG contractors that come onboard, meaning they could secure liquefied natural gas volumes at a good price and have supply security, he adds.
  6. If this assumption turns out to be correct this field could be about 20 miles long and 3-5 miles wide. If that is the case it will be larger than Antelope, assuming that we find the reef as expected. Did you notice at the bottom of this chart that Knowledge Reservoir is the company handling the interpretation of the Bwata seismic for IOC and it is dated April 2011.
  7. Tokyo Electric Power Co., producer of about a quarter of Japan’s electricity, may increase imports of liquefied natural gas by 50 percent to compensate for output lost as a result of last month’s earthquake and tsunami. 
  8. PAPUA New Guinea enters into an agreement today to protect Japanese investments, worth billions of kina, in the country and also attract new investors.
  9. The Feb. 2, 2010 CC where Henry Aldorf was introduced. I converted it to a mp3 and have uploaded it to a free file share service for your access.
  10. What did Sinopec pay Origin for the gas deal?
  11. $17.82/MCF
  12. The APLNG Project is so much different from the IOC ELK/Antelope project

Tags: IOC · The best from the boards

1 response so far ↓

  • 1 DaveonTB // Apr 28, 2011 at 12:34 pm

    Thanks. Like the new format.