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+--- Thread: Option premiums (/showthread.php?tid=2309)
RE: Option premiums - johnwgrant - 12-12-2012
'Palm' pid='14580' datel Wrote:Getting a little pumpish there Tree. Has anyone ever brought an LNG project in on time and under budget? Anyone? I mean a real LNG project.
softball question - http://shareholdersunite.com/2010/01/25/interoil-aldorf-lng/
RE: Option premiums - Palm - 12-12-2012
"Aldorf, who gave his age as more than 55, was responsible for setting up Equatorial Guinea’s only LNG plant in 2007 when at Marathon, one of the lowest cost and fastest LNG projects set up from scratch, and was the venture’s first managing director, he said."
Wow, didn't think that was possible, but now that I think back a bit I do remember this PR that started out:
"Marathon and Partners Deliver First LNG Cargo From Equatorial Guinea Train 1 LNG
Project Six Months Ahead of Original Schedule
Copyright © 2007 PR Newswire Association LLC. All Rights Reserved.
HOUSTON, May 24 -- Marathon Oil Corporation (NYSE: MRO) and its partners announced today the
delivery of the first cargo of liquefied natural gas (LNG) from their Train 1 LNG project on Bioko
Island, Equatorial Guinea. The $1.5 billion project was completed on-budget and six months ahead
of the original schedule of late 2007.
"Today marks a significant achievement for Marathon, the Government of Equatorial Guinea and
other Equatorial Guinea LNG Holdings Limited (EG LNG Co) shareholders," said Clarence P.
Cazalot, Jr., Marathon president and CEO. "This project will produce clean, abundant energy for
world markets, as well as positive economic benefits for the people of Equatorial Guinea for decades
to come. The record-setting pace of this project from inception to first delivery of LNG and the
outstanding safety record we achieved during construction are the result of a shared vision and
spirit of partnership amongst the shareholders. We look forward to our continued collaboration as
we explore the possibility of expanding to multiple LNG trains in the future."
http://lnglicensing.conocophillips.com/EN/news/documents/FirstLNGCargoFromEquatorialGuinea.pdf
Henry Aldorf was "the man behind the curtain"? Now IF one could just find a guy like that to drive our project and be innovative, I'd bet this cost blowout talk could be made history.
(information provided by Philstar.com which pays people heavily to solicit and print inside/illegal information)
RE: Option premiums - maui4marko - 12-12-2012
From "Anatomy of a Successful LNG Project" as presented at Gastech 2008 by Henry, Al Pace (Project Director), and Bonifacio Monsuy (EG LNG)
What Worked Well
By most project standards, the above milestones were completed in record time. Such speed in development can be attributed to the following fundamentals:
-Highly experienced and motivated negotiating team [how about 3 of these?]
-Equatorial Guinea government foresight and willingness to place a high priority on the project. The value of the E.G. government cooperation and support on the project cannot overstated. It was one of the key factors in the project success [ring a bell with O'Neill & the newfound PNG "priority"?]
-Atmosphere of trust [IOC has been in PNG how long?]
-Shareholders were aligned [post-election, yes]
-President of Equatorial Guinea set a date by which the alignment must take place [end of Dec 2012?]
-No need to structure the project around financing institutions (self financed) [14% tolling?]
-No need to locate the gas supply. Ample supply immediately available from Alba field [E/A, B/T, 14 more?]
-Synergy of partners between gas supply and LNG production (same operator – Marathon Oil) [TBD]
-Highly experienced and knowledgeable legal counsel (Baker Botts)
-Lessons learned from ongoing operations in Equatorial Guinea (existing gas plant and methanol plants)
-Decision to sell all of the LNG to one entity (BG Gas Marketing Ltd.)
Check out the rest of the "similarities" in Al Pace's write-up: http://www.alpace.com/articles/Gastech_2008_-_Anatomy_of_a_Successful_LNG_Project_18_JAN_2008.doc
RE: Option premiums - jft310 - 12-12-2012
Henry A -brought in EQ under budget and early. But you knew that..
RE: Option premiums - Palm - 12-12-2012
Who gave you the philstar password JFT?
Yes Henry is a legend for what he did at EG LNG. May be more of a challenge these days but I think Henry likes a challenge. Maui's regurgitation of that paper that Henry coauthored is worth the read. What was Henry's term for IOC? Not stranded but "advantaged" gas. His "ample supply" requirement is in place he knows. He watched the Ant structure closely as it was first tapped. From his conversation with Calio early on he stated, "You don't see seismics like that very often."
RE: Option premiums - TomCrooz - 12-13-2012
As far as premiums on out of the money calls, I am not seeing anything near what you were paying just a few short months ago. I have not bought any options for quite a while, but made a boatload over the years buying deep in the money contracts. I could not resist and just purchased some March 60 calls for 5.20. It will either be well over that by March or 30/share. Hopefully my last winning option buy on IOC.
RE: Option premiums - admin - 12-13-2012
["As far as premiums on out of the money calls, I am not seeing anything near what you were paying just a few short months ago."]
But compared to just two days ago...