'Palm' pid='69788' datel Wrote:STP, Exactly and what I said last night. OSH emerges as a more certain, more financially healthy company in a now upturning industry. In Aug 2014 I proposed this should happen for those reasons. IOC was likley not going to get to be this great company as it is too capital intensive, too risky and difficult for a minnow to swim in those infested waters.

Yea, I see the rationale and the possible $3B cost savings, and the alternative which isn't that appealing either, but I have to say I would have liked to see our board not instantly keeling over and getting us a bigger stake in this. And quite frankly, I'm not 100% reassured on the upcoming certification given the incentives of the only parties left with a juridical stake. Outright fraud isn't likely and they do need the info for rightsizing the plant (if they're actually won't surprise us and opt for bolting trains to the PNG LNG instead), but still..

'Palm' pid='69787' datel Wrote:Exactly Kaliboo. What other investments out there today have the appreciative possibilities we received today, plus being part of what will now be a progressing new project and likely an expansing one (PNL LNG)? The stock market is and will be in a funk for a good long time. Articles everywhere ask where can anyone put their $$ to get appreciation? Very few options out there. IOC was going to continue to flounder for a good long time and drop in pps. Thinking we should get 100% value for different pieces/parts is not realistic. The deeply discounted pps would not change and continued to say it was going to be very hard for IOC to ever really develop much for a long time. Going back to the supposed deal Phil had with XOM is also losing sight of reality. All that was announced was XOM having exclusive rights to negotiate a deal. XOM likely would have dragged things out as people crowed that exclusives like that are not good as there is was a huge advantage to XOM. As things dragged on IOC was out of cash, out of credit and probably going to start losing licenses. As I said before; not wildly happy but now there is more certainty of the future and being part of something.

This whole thing orchestrated by Total is a great lesson for many on how to out-deal your competitors and aquisition targets.  Deferred payments (i.e., our certification payment) were a brilliant way to "appear to be paying for something."  If Total had paid a fixed cost up front, this could NOT be happening now.  Many of us thought Hession's "capturing the upside" was brilliant.  Well it was for Total.  They are definitely capturing the upside.  Brilliant!  Maybe we should all buy Total stock!  I feel like I've been sucker punched.

'Palm' pid='69795' datel Wrote:"Instantly"? I hardly think this was done over a few beers and a couple of napkins. I bet this has been going on for close to a year. More noise about it recently but rumbles a long time ago.

Probably, but optically it would have been better if they'd seen to have fought for our corner, rather than this cosy unanimous agreement and PR blitz.

Then there are those depressing elements that 2126 keeps discovering..

'admin' pid='69798' dateline='<a href="tel:1463769 Wrote:

'Palm' pid='69795' dateline='<a href="tel:1463769 Wrote:"Instantly"? I hardly think this was done over a few beers and a couple of napkins. I bet this has been going on for close to a year. More noise about it recently but rumbles a long time ago.

Probably, but optically it would have been better if they'd seen to have fought for our corner, rather than this cosy unanimous agreement and PR blitz.

Then there are those depressing elements that 2126 keeps discovering..

It's how business gets done in the real world.  Maybe some white knight will come charging onto the scene, but low chance.  IOC held pieces that on their own they were not going to be able to capitalize on to the same extent others can and will.  It would have been much more depressing watch pps bleed away.  It's reality

Reality is still a bit depressing here under the bus.

["It's how business gets done in the real world."]

That doesn't make it any less depressing..

And just as a reminder, IOC's share price still reached $60+ in June last year after oil had recovered some of it's first big  leg down..

'Palm' pid='69753' datel Wrote:OSH had to unload assets to Total to help pay for both this deal with IOC and the Certification pmt to PAC Lng shareholders. Total can now bring in one or more other strategic partners to drive and market the project(s) that come out of this.

PAC LNG will get paid.   Why doesn't IOC get paid as well? Worse, PAC LNG is getting paid by IOC shareholders.

We've been told for two years Total has been marketing this gas.  That has been part of their job.

Anyone note the outcome of this deal is just about the same as if Hession had lost the arbitration?