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Total Payment to OSH - Printable Version

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Total Payment to OSH - 2126 - 05-21-2016

According to The Street:

"If that deal completes, Oil Search will then sell 60% of Inter Oil's stake in Elk-Antelope, the main asset, and a further 62% of Inter Oil's exploration assets to Total. The French company will pay about $1.3 billion cash for the assets, equivalent to the implied value paid by Oil Search, and will top up the payment with an additional $372 million to buy InterOil's stake in the nearby Papua New Guinea LNG project, which is operated by ExxonMobil (XOM)."

Source: https://www.thestreet.com/story/13579305/1/interoil-succumbs-to-oil-search-total-breakup-deal.html?puc=yahoo&cm_ven=YAHOO

According to Bloomberg:

" Shortly after closing, Total will pay Oil Search about $1.2 billion for 60 percent of InterOil’s interests in PRL 15 and 62 percent of InterOil’s interests in its other exploration assets following the acquisition of InterOil. Total will pay Oil Search another $141.6 million in July 2017 and $230 million when the companies officially sanction the Papua LNG project, Total said in a separate statement."

Source: http://www.bloomberg.com/news/articles/2016-05-19/oil-search-to-buy-interoil-in-deal-valued-at-2-2-billion?cmpid=yhoo.headline