Shhhh dont wake the baby. I wonder how long the reshuffle of DPE and Petromin will delay things. Realistically if I was a NOC or SM I would want to see that all was in order before I signed on the dotted line. I believe a deal will come, I just feel its further out than we hope. Thoughts? I bet I'm not alone in tiring of the endless complications, wether the fault of IOC, Shell or the PNG Govt ineptitude.

Am I alone?

By the way I have no options, and no margin. But I'd like to make some money.

[quote='bertl05' pid='20575' dateline='1365709388']

Shhhh dont wake the baby. I wonder how long the reshuffle of DPE and Petromin will delay things. Realistically if I was a NOC or SM I would want to see that all was in order before I signed on the dotted line. I believe a deal will come, I just feel its further out than we hope. Thoughts? I bet I'm not alone in tiring of the endless complications, wether the fault of IOC, Shell or the PNG Govt ineptitude.

Am I alone?

By the way I have no options, and no margin. But I'd like to make some money.

We're all busy being obedient shareholders.

'bertl05' pid='20575' datel Wrote:

Am I alone?

By the way I have no options, and no margin. But I'd like to make some money.

You are not alone.  I would like to make some money as well.  After all, 174 weeks ago IOC stock was $70 per shares.

'bertl05' pid='20575' datel Wrote:

Shhhh dont wake the baby. I wonder how long the reshuffle of DPE and Petromin will delay things. Realistically if I was a NOC or SM I would want to see that all was in order before I signed on the dotted line. I believe a deal will come, I just feel its further out than we hope. Thoughts? I bet I'm not alone in tiring of the endless complications, wether the fault of IOC, Shell or the PNG Govt ineptitude.

Am I alone?

By the way I have no options, and no margin. But I'd like to make some money.

'bertl05' pid='20575' datel Wrote:

I wonder how long the reshuffle of DPE and Petromin will delay things.

Hey Bert, I can answer that question for you.  Quite simply it won't.  Why, because the selldown deal requires NO signatures/approval from Petromin.

Let's use the PRE deal as an example.  They signed on during a time with presumably Duma and Petromin were doing everything they could to derail IOC, but they still signed on and had no trouble waiting a year to get their name on the PRL/PDL.

• Do you really think that there is any chance that the bidders don't have a signed golden letter from O'Neill with probably half the PNG ministers signatures promising no BS after a selldown deal is consumated.
• Do you really think that any selldown agreement with IOC doesn't have an out clause saying that if the PNG government doesn't add the winning bidder to the license then everything is null an void.

Disbanding of Petromin is good long term news for PNG and most likely IOC as resistance should dissipate but it has zero impact on the IOC selldown at this stage.

(04-12-2013, 05:43 AM)bertl05 Wrote:

Shhhh dont wake the baby. I wonder how long the reshuffle of DPE and Petromin will delay things. Realistically if I was a NOC or SM I would want to see that all was in order before I signed on the dotted line. I believe a deal will come, I just feel its further out than we hope. Thoughts? I bet I'm not alone in tiring of the endless complications, wether the fault of IOC, Shell or the PNG Govt ineptitude.

Am I alone?

By the way I have no options, and no margin. But I'd like to make some money.

bert, what is being "reshuffled" at DPE?  As far as Petromin and Kumul and that reorganization is concerned, I think that is something desired by bidders, especially Japan, and will increase confidence and actually facilitate completion of the deals, and one reason for O'Neill to be announcing and pushing it.  It seems to me that the information that has been coming out on that recently and the previous indications from the Company about the readiness of all bidders to progress and finalize the process since the NEC approval points in that direction.  What facts, if any, do you have to support your comment?  If "you were a NOC or SM" (lots of experience there?), what would you consider "all in order", legislation in September?  Are you calling that another "endless complication"?  Give me a break!  I think you are dead wrong and engaging in unjustified and inappropriate speculation.  It sounds like something a short basher would throw out as a scare tactic, and something you should be using a different channel for, if any.

Seems to me a lot of inappropriate whining about past years that can only be damaging going on here right on the verge probably of what many of us have been waiting for so long, and I don't understand and don't like it.

'Getitrt2' pid='20585' datel Wrote:

[quote='bertl05' pid='20575' dateline='1365709388']

Shhhh dont wake the baby. I wonder how long the reshuffle of DPE and Petromin will delay things. Realistically if I was a NOC or SM I would want to see that all was in order before I signed on the dotted line. I believe a deal will come, I just feel its further out than we hope. Thoughts? I bet I'm not alone in tiring of the endless complications, wether the fault of IOC, Shell or the PNG Govt ineptitude.

Am I alone?

By the way I have no options, and no margin. But I'd like to make some money.

bert, what is being "reshuffled" at DPE?  As far as Petromin and Kumul and that reorganization is concerned, I think that is something desired by bidders, especially Japan, and will increase confidence and actually facilitate completion of the deals, and one reason for O'Neill to be announcing and pushing it.  It seems to me that the information that has been coming out on that recently and the previous indications from the Company about the readiness of all bidders to progress and finalize the process since the NEC approval points in that direction.  What facts, if any, do you have to support your comment?  If "you were a NOC or SM" (lots of experience there?), what would you consider "all in order", legislation in September?  Are you calling that another "endless complication"?  Give me a break!  I think you are dead wrong and engaging in unjustified and inappropriate speculation.  It sounds like something a short basher would throw out as a scare tactic, and something you should be using a different channel for, if any.

By the way, I have reason to believe the Company thinks it is a good thing. Does that matter to you?

Seems to me a lot of inappropriate whining about past years that can only be damaging going on here right on the verge probably of what many of us have been waiting for so long, and I don't understand and don't like it.

++++++++++++++++++

I think you two can both be correct.  Can't it be both "a good thing in the company's eyes" (for long term stability and fair-dealing)...and also an event that may delay the announcement of a deal?  In my mind there is a significant difference between the PRE deal (which was largely between the two parties) and the upcoming deal (which creates a new partnership with PNG).  Forinstance, a bidder's rights and obligations could be significantly different if PNG does or does not want the extra 27.5%.  It is quite possible that a bidder might be willing to participate in different ways depending on PNG's decision in that regard.  Has that decision been made...in writing?  If it hasn't...is Petromin going to make it?  Tree and others have proclaimed "yes they will" but that is just as speculative as someone guesssing "no".

Also, announcing that the Board would be meeting "during the first week in March" created (maybe unintetionally) expectations that they would meet and we would have a relatively quick decision.  That has not occurred.  This could be for a variety of reasons of course...but one plausible explanation for this is that PNG is the problem.  Although they appear to be "getting better", there is a long history of instability so I don't see that as an outlandish hypothesis in this situation.  In fact, I raised the same questions ("Is PNG currently in a position to sign off?"...and more importantly, "will an entity about to commit billions of dollars prefer to do soafter the offensive departnment is officially gone?" in my posts a few days ago. 

'jft310' pid='20591' datel Wrote:Think Christian Vinson might know more than any of us??? Please explain why he was quoted in Kavo's National story that a deal was weeks away. Think a principle of a company makes statements like that lightly?? Just curious how to explain that statement. Further how do we get our hands around the Phil M comment we will know more in 30-60 days. Fits with Vinson comments is non argueable. Think O'Neil might be on a mission to generate revenue for PNG?? Is earlier revenue better or worse.?? If the bidders were worried about the government why did they bid now with a final bid???Why did Wayne say at IPAA that IOC had 2 Super Major bids , 1 NOC and 1 Utility company bids. More important what will Wayne say Monday AM at IPAA????Why Monday at 9:35 AM?? These are tea leaves for all to read . Some of us will read them differently than others.

Actually if you read the article he was never quoted with direct quotes. What was written:
Christian Vinson told The National that the Gulf LNG project was going on well.
He added that InterOil had to find the right partner to operate the project.