XOM bails on NGE deal - Printable Version

XOM bails on NGE deal - Printable Version

+- ShareholdersUnite Forums (http://shareholdersunite.com/mybb)
+-- Forum: Companies (http://shareholdersunite.com/mybb/forumdisplay.php?fid=1)
+--- Forum: InterOil Forum (http://shareholdersunite.com/mybb/forumdisplay.php?fid=4)
+--- Thread: XOM bails on NGE deal (/showthread.php?tid=4521)

Pages: 1 2 3 4

RE: XOM bails on NGE deal - SeKreet - 08-28-2013

'CAC' pid='28048' datel Wrote:

...until we have a definitive deal, it is possible that the exact same story could be written tomorrow with IOC substituted for NGE.

I really don't think so Cac!

It 's like a mother who goes to market , food-shopping fot her hungry kids.

When she arrives at the the market she goes to the 2 market-stalls that have signs up, telling her they sell potatoes. After talking with the one salesman who has the sign up "Potatoes Next Week for sale", she obviously turns down negotiations with him and buys the potatoes from the other sales-man who has the sign up "Potatoes NOW for sale" and actually has the potatoes lying on the market-stall.

She has to come home with potatoes for her hungry kids. It is NO option to come home empty-handed!

RE: XOM bails on NGE deal - Tree - 08-28-2013

'Palm' pid='28050' datel Wrote:Again RA not sure this has anything to do with plans with IOC directly. Talisman is the operator of PPL 269 and they have very clear plans to aggregate gas and liquids for their own projects in Western Province. This deal from the start had a very small chance of happening because of that. There were several specific items that Esso had to get Talisman to agree to and chances were pretty slim it would happen. XOM is going after any gas it can get in its aggregation plan. Some will happen and some won't. Talisman, Horizon and others are somewhat quietly pulling together some nice discoveries for the Western Province project. IOC needs to make the deal happen. They have it and XOM wants it. Seems easy.

Maybe XOM is buying Clive's 25T.....

**********

Australian explorer New Guinea Energy announced the deal in July that would see ExxonMobil’s subsidiary Esso PNG Robin take New Guinea’s 50% stake in the Papuan basin block.

One of the conditions of the sale was obtaining approval from the other PPL 269 joint venture partners, Talisman Energy (operator and 30% stakeholder) and Mitsubishi Corp (holding 20%).

However, New Guinea said on Wednesday that Esso had been unable to reach alignment with Talisman and Mitsubishi on a number of confidential commercial matters. These matters were not disclosed to New Guinea.

As a result, Esso will not proceed with the sale agreement.

Consistent with its strategy of monetising gas assets to focus on oil exploration in Papua New Guinea, New Guinea said it intended to re-engage with other parties interested in the possible acquisition of the company’s 50% stake in PPL 269.

RE: XOM bails on NGE deal - Palm - 08-28-2013

Agree. That thought crossed my mind. Assuming Palmer found "something" of significance we know that any major will want to take a look. This find could be bigger than anything IOC has and it's closer to PNG LNG. As fast as OSH mobilized a rig at sea XOM can move faster. They may just sit back and see what's there first. Same with Shell. They and Palmer are close to China and a find like this could really be a feather in a cap. PNG Gov may quickly turn its attention there if IOC doesn't get a deal done very quickly.

RE: XOM bails on NGE deal - Resourcearb - 08-28-2013

'Palm' pid='28062' datel Wrote:Agree. That thought crossed my mind. Assuming Palmer found "something" of significance we know that any major will want to take a look. This find could be bigger than anything IOC has and it's closer to PNG LNG. As fast as OSH mobilized a rig at sea XOM can move faster. They may just sit back and see what's there first. Same with Shell. They and Palmer are close to China and a find like this could really be a feather in a cap. PNG Gov may quickly turn its attention there if IOC doesn't get a deal done very quickly.

As Bentek Energy LNG analyst Javier Diaz recently stated, “I think they (Clive Palmer) will still continue to (conduct) exploration operations in order to really ensure that this discovery is really what they think it is at the moment. When I look at the number, usually the amount of investment in exploration is really high. It’s probably just a first seismic analysis of the data.” (http://www.rnzi.com/pages/news.php?op=read&id=78546)

There hasn’t even been a single well drilled in Palmer’s offshore license area. Any potential agreement between Palmer and Exxon at this juncture would be a farm-in arrangement that would be speculative and in a best case scenario would defer the PNG LNG expansion by years relative to having Elk/Antelope supply the next 1-2 trains. The geologists I’ve spoken to agree that Palmer’s promotion is premature and misleading at this juncture and that any deal with Palmer would not supplement a deal with InterOil for access to a well defined and developed resource and proven reefal complex.

Make no mistake about it, Exxon needs InterOil to lock in the certainty of an expansion of PNG LNG. I think we will have a deal completed very soon.

RE: XOM bails on NGE deal - jft310 - 08-28-2013

'Palm' pid='28062' dateline='<a href="tel:1377687 Wrote:Agree. That thought crossed my mind. Assuming Palmer found "something" of significance we know that any major will want to take a look. This find could be bigger than anything IOC has and it's closer to PNG LNG. As fast as OSH mobilized a rig at sea XOM can move faster. They may just sit back and see what's there first. Same with Shell. They and Palmer are close to China and a find like this could really be a feather in a cap. PNG Gov may quickly turn its attention there if IOC doesn't get a deal done very quickly.

The costs to produce offshore NG if found ever are multiples higher then land based NG discoveries near an Exxon T in a 3 train line. But Palm knows that.

RE: XOM bails on NGE deal - Palm - 08-28-2013

But that cost with less necessary pipelines and to feed an expansion train are less important especially when you're talking this big of a resource. And if it's in a single formation like EA, that means less wells necessary. They will no doubt keep close tabs on Palmer's field.

RE: XOM bails on NGE deal - cybersssss - 08-28-2013

Palmer's statement is purely promotional and speculative. IOC gets crap for having multiple wells drilled and 3rd part estimates. You think that anyone gives any credence to Palmer's "find."

Let him spend 100 million + to drill an offshore well and then we will talk if it is worth anything. Until then XOM or anyone is not expecting it to have anything to do with PNG LNG.

RE: XOM bails on NGE deal - Palm - 08-28-2013

Palmer's "find" has been done using 3D seismics. He spent $50 million doing it. It's gaining more attention and we can't forget that Palmer is a huge backer of Duma and his Resource Party.

RE: XOM bails on NGE deal - Libtardius Maximus - 08-28-2013

Over the years there has been rumors of a someone with deep pockets enabling hedgies to keep a lid on IOC via shorting and political interference. Just when things are heating up via bidding on PPL 15 Clive Palmer claims to have a significant find that he doesn't want to drill, he just wants to sell it. Seems to me that this could be our "big short" trying to cut to the front of the line.

RE: XOM bails on NGE deal - Gator - 08-28-2013

'Palm' pid='28044' datel Wrote:Means nothing other than they couldn't get other parties to agree. Could actually be negative for IOC if that trend continues. IOC just needs to get a deal done.

Amen Brother Palm. InterOil just needs to get a deal done. Now would be nice.