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+--- Thread: CC Transcript (/showthread.php?tid=2899)
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RE: CC Transcript - jft310 - 03-01-2013
David yes add the 36 mths and need for NG that Exxon needs for a third train and one can conclude they are in the mix. Are they the winner??
RE: CC Transcript - johnwgrant - 03-01-2013
'jft310' pid='17973' datel Wrote:David yes add the 36 mths and need for NG that Exxon needs for a third train and one can conclude they are in the mix. Are they the winner??
Are they bidding more than $1.04 per mcf ?!?!
RE: CC Transcript - jft310 - 03-01-2013
John-One of our sources says one of the bids is $2 per mcf plus financing. Why your $1.04 comment ??Others have posted that same rumor. We have had several CC in a row that they have said mutiples of the current price. If the current price is 60 cent range then $1.04 is not the right number. Exactly what is that right price not even IOC knows for sure they gotta open all the bids tonight.
RE: CC Transcript - johnwgrant - 03-01-2013
'jft310' pid='17981' datel Wrote:John-One of our sources says one of the bids is $2 per mcf plus financing. Why your $1.04 comment ??Others have posted that same rumor. We have had several CC in a row that they have said mutiples of the current price. If the current price is 60 cent range then $1.04 is not the right number. Exactly what is that right price not even IOC knows for sure they gotta open all the bids tonight.
I did a "simple" calculation (earlier post of mine) of the value of IOC based on the comment that bids were for a "multiple" of the current indicated price (ie, the share price is too low!).
So, at the time, the share price implied that IOC was worth $.52 per mcf. So, I took 2 X $.52 = $1.04 as the minimum price per mcf that is being bid. That implies a share price for IOC of at least $103+.
Anyway, just anxious (as we all are) to get the final news about the sell-down ....
RE: CC Transcript - jft310 - 03-01-2013
I think we can agree between $1 and $2 seems to be the talk. some with financing it appears. Do the talkers know?????They have not let me open any envelopes and I can't imagine why??
RE: CC Transcript - ArtM72 - 03-01-2013
'jft310' pid='17969' datel Wrote:David- I guess the 36 mth to production time period is Exxon and the 60 plus months is Kogas.Others in the middle. I assume EWC is not in the hunt here at E/A , maybe later. Exxon needs NG for a third train everyone should know that.
Doesn't Exxon really need gas for the second train in order not to jeapordize the long term output (and possible condensate recovery) from its existing wells by over producing?
RE: CC Transcript - jft310 - 03-01-2013
I heard that also about train 2. Exxon has enough NG for 9 years of production and contracts for twice that length at train 2. So one could argue both NG in the future for train 2 and in the near future for train 3. Exxon needs a third train to improve the economics of the project especially since the recent cost overruns and those LNG workers finishing up and needing work.