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+--- Thread: Kaboom (/showthread.php?tid=3714)
Kaboom - Justin94360 - 05-24-2013
InterOil And Pacific LNG Group Enter Into Exclusive Negotiations With ExxonMobil On Development Of The Elk And Antelope Resource
PORT MORESBY, Papua New Guinea and HOUSTON, May 24, 2013 /PRNewswire/ -- InterOil Corporation (NYSE:IOC) (POMSoX:IOC) and its joint venture partner, Pacific LNG Group, have entered into exclusive negotiations with ExxonMobil Papua New Guinea Ltd., a subsidiary of ExxonMobil (NYSE:XOM), on the development of Petroleum Retention License 15 (PRL 15), which comprises the Elk and Antelope fields in the Gulf Province of Papua New Guinea. The transaction has been discussed with the Government of PNG and any future agreement will be subject to their final approval.
Items under consideration include:
- InterOil and Pacific LNG selling ExxonMobil Papua New Guinea Ltd. an interest in PRL 15 that is sufficient to supply gas to develop an additional LNG train at ExxonMobil Papua New Guinea Ltd.'s Konebada site. There will be staged payments before and after production commences.
- InterOil and Pacific LNG will be funded to drill additional delineation wells in the Elk and Antelope fields, which will be followed by recertification of the resource.
- InterOil and Pacific LNG will have the optionality to either independently develop a second LNG project in the Gulf Province that may also use gas from PRL 15 and potentially other discoveries, such as Triceratops, or pursue further development with ExxonMobil Papua New Guinea Ltd.
RE: Kaboom - jft310 - 05-24-2013
So much for the nonsense about a buyout! We gonna do this deal and then drill Triceratops and do it again! And drill maybe Wahoo and Tuna and do it again. Yes I think Exxon will buy all of IOC someday. Just not before we drill a few more wells!
RE: Kaboom - Tree - 05-24-2013
Well done IOC.
XOM receives feed, couple more successful wells and we get our 2nd LNG project fed by PRL 15 or we just develop with XOM. Is XOM an approved operator????
Congrats. Cha-Ching.
RE: Kaboom - jft310 - 05-24-2013
Big picture MAYBE is EWC which is FID ready could do modular at E/A. Might explain Chandler buying all this stock!! He has an interest in EWC and IOC both succeeding!! Could happen another way of course. Do the Mitsui deal , do the EWC deal and we have cash flow boys and girls. Cash flow in 18-24 months. Exxon gets dry gas we get condensates and cash flow.
RE: Kaboom - ArtM72 - 05-24-2013
Almost makes things simple again. Exxon gets its gas. Final delineation of E/A and Ttops determines how big the Gulf LNG will be. Mitsui still CSP? Could certainly be the case. Rapid. FID in any event.
RE: Kaboom - Tree - 05-24-2013
ExxonMobil Says in Talks With InterOil Over Papua New Guinea Gas Assets
ExxonMobil Corp. (XOM) said Friday it is in exclusive talks with InterOil Corp. (IOC) to invest in its natural gas assets in Papua New Guinea, a move that could cement the impoverished Southeast Asian country's position as a new significant energy exporter.
The talks show how rising Asian demand for clean fuels is prompting international companies to raise their bets on regions that have previously played only a small role in the global energy industry. Papua New Guinea, better known for its jungles and tribal violence, is due to start receiving a major revenue injection next year when the ExxonMobil-led $19 billion PNG LNG project starts up.
Houston-based InterOil owns the Elk and Antelope natural gas discoveries in Papua New Guinea. In 2009, it signed an agreement with the government to develop a large-scale liquefied natural gas, or LNG, project on the south coast.
"ExxonMobil is in exclusive negotiations with InterOil over the Elk and Antelope developments," an ExxonMobil spokeswoman said by phone from Port Moresby, Papua New Guinea's capital, Friday.
In a statement confirming the talks with Exxon, InterOil said it is discussing whether gas from the Elk and Antelope fields would support an expansion of the PNG LNG project or a new gas-export facility. It didn't specify financial terms.
Read more: http://www.foxbusiness.com/news/2013/05/24/exxonmobil-says-in-talks-with-interoil-over-papua-new-guinea-gas-assets/#ixzz2UCXyfdYe
RE: Kaboom - ebster123 - 05-24-2013
So what about e CA's?? If XOM can talk is TD deal DONE?? Also, JFT, while I agree that no buyout now is in the bet financial interest for true longs how can you be so sure? This is a perfect scenario for RDS to put in a $350 pps buyout bid!! Time will tell....
RE: Kaboom - jft310 - 05-24-2013
Ebster we actually want that offer.Establishes a value for IOC. If Triceratops has what Dave Holland thinks it has then $350 is way short. Solution is drill baby drill.
In 1 year we will know way more than today. Without drilling the new formations the price difference in a sell down and sell out makes no sense. Best to drill and sell, drill and sell.
RE: Kaboom - ebster123 - 05-24-2013
I totally agree for my own shares but I am not so certain the bigs feel the same way. BTW, nice to see on Scottrade that the bid is $100 the ask is $110.01 and 900 shares have traded. Binck, I hope you see this one!!!!!!!
IOC 93.47 0.00 0.00 900 100.00 110.01 (12)
RE: Kaboom - Bobby - 05-24-2013
Love to wake up to an email from meg. Congrats to all. I particularly liked that payments would be staged both b4 and after production commences!! Drill baby drill