Yahoo post, this will get the chatter going.

'Stavros' pid='20066' datel Wrote:Thanks Boss. I'm still not sure I understand the 15% reference and the 12% references, but they must be good signs (higher bids and lower costs). Seems like the waiting is nearly over. Rebids appear to have been submitted and evaluated, and final clarification questions were asked. A decision has been made and we're now waiting for final MOUs that are with the lyers (er lawyers).

This was in his post on March 20:

...JKM deal is contingent upon Petromin removed as State representative. O'Neill to detail PNG replacement of Petromin in JP tour this week. JKM prefer contract operator, PNG prefer SM as operator. Think which Super has moved to Gulf and will surely have an LNG Plant in Gulf Prov. 
Interoil no preference long term. Negotiations now between PNG, Super and JKM. PNG to likely throw weight here. 100% production to SK and JP either scheme....

Logic says PNG has been making concessions to secure JKM.  If true JKM wants contract operator, O'Neill wants nameplate SM and PNG will assert itself.  Could be we get nameplate at a discount, good for OPEX and pps squeeze AND a higher buy in if the 15% reference implies that.  Sweet-Spot baby.

'Tree' pid='20064' datel Wrote:

I'm hung over Stavros, so here goes. ********* Some colleague see.   2nd hand info? Some I see.               1st hand info? More than one hand count.   >5 bidders? Shorts can count to 5 on one hand  Room for each bidder.         >5 stakes are in play between up, mid downstream and exp?         MOU decided LNG partner, SD and upstream prl15.   Japan and JKM? secure in project by JAPEX MOU? E&P farm ins 237 and 8 selection.   JV Farm-Ins parallel bidding? Friction on Board, include multi national company and sovereign which value stakes 15%.  BoD split on NOC or SM Operator?  NOC paying 15% premium?? Host prefer sovereign.   PNG prefers donor nations as partners  LNG operator bids have declined 12% as LNG projects delay in region.  Good point, less OPEX for hired Operator SM or Not. Expansion immediate near parallel.  No 2 yr. delay between trains  Cheaper is better when choice between quality sub contractors.  EPC pencil sharpening Governor Kavo in line for assurance.  Finalizing Petro Park?? Harbor Deals??  Time to hear from KAVO Korean stage now.  SK/PNG PMs to meet like JP and Thais did?? Oil men pleased Kalinoe has left and Petromin is absorbed.   Petromin/Kalinoe ouster has been pushed for by more than IOC/JP interests.  Reports of Petromin as obstacle and their incompetence cost devolopers/explorers $$.  RDS/Petromin alliance was an unholy one from start.

Tree if yiou are not a hungover Nostradamus you are at least a John Hogue. Thanks that was great.

'CesiumFormate' pid='20072' datel Wrote:All of this tells me that O'Neill and IOC are working together and things are moving forward. It certainly looks like O'Neill is actively involved in ensuring this project happens. This recent post makes me feel more confident that we will see a full sell-down of Triceratops and possibly additional unproven licenses when the deal is announced. I expect the whole Enchalade at once.

Cesium, to my mind once the SD on E/A is done everything IOC becomes derisked. Therefore I would think all other deals will be done after the sell down and at much higher rate offtake contracts and further down the line spot rate sales. They have PRE as the partner on TRI to get the drilling going there and with the new partner on EA and upfront cash should enable them to rapidly drill other licenses.