pickboone from yahoo states

Investors are underestimating the implications of attracting majors to bid on the Gulf Project. Anyone with experience in the LNG arena understands how big a feat this was for InterOil and what it will mean for the sell-down process. In East Africa the interest suddenly hit a tipping point, perceived value of the offshore acreage exploded, and a bidding war for Cove ensued. I've asked several oil companies about LNG in East Africa that they think it's 10-15 years away and will be expensive to develop, but once the majors took an interest, the price of the assets went way up and almost all of the majors wanted a piece of the action. The majors are now all over InterOil's project, and though this is public knowledge, the cynics continue to rant about how the resource won't be sold becuase it wasn't sold in the past.

I think we will see a deal early in the new year that will surprise the cynics and send the shorts scrambling for cover. There just aren't any LNG assets in the world like InterOil's project, and for those who choose to open their eyes it's clear that the tipping point has happened.