My friends, fwiw, use or flush

Something has changed since Hession has come on board.  He either wants:

• one (or more) of the major terms with XOM changed
• a change in the legal wording regarding the execution of one (or more) of the major terms
• some changes in terms regarding the 3rd train of PNG LNG

This fits with some board member reporting negotiations being reset, however negotiations aren't being reset - just a few details are being changed.  To achieve this goal, he has recently implemented 3 changes in the span of 7 days to help motivate our future partner:

• IOC is going to resume drilling in 3 months on Wahoo
• Negotiations with XOM are no longer exclusive
• Announced a 75 million secured loan for drilling and exploration
• And to boot I have also heard from a source (who I trust 100% and I am certain isn't LT's source) that there was another bid submitted to IOC.

Based upon this, combined with Hession's prior history of dealing with XOM and closing deals, I really believe we are in control of the process not XOM.    Additionally, I wouldn't be surprised if IOC was actually happy that the "exclusive clause being dropped" went public - indirectly announcing to Exxon that we are driving this bus.

And for those who may follow the short term pps just a little to closely - IOC is cutting a deal that will shape and define the company for the next 25 years.  The process, while seemingly dragging out to us, is brand new to the guy sailing the ship.  Through all my conversations, I know Hession's first priority is to execute the best possible outcome and his second priority is to do it in the quickest possible time frame.  He is a stud and he will execute.  We are lucky to be in his hands.

Hemi.

I love when you talk dirty.

Thanks Hefi!

Instead of saying use or flush, perhaps I should have said use.  I am Russell Searancke.......

'Getitrt2' pid='30244' datel Wrote:You mean, should have said, "Use. I am Russell Searancke."? Or are you saying, "I am Russell Searancke..."?!

Actually I should have said "Take it to the f-ning bank!"

Also, I should have said "Russell Searancke wishes he was Hemi"   

'efi426hemi' pid='30294' datel Wrote:

'Getitrt2' pid='30244' datel Wrote:You mean, should have said, "Use. I am Russell Searancke."? Or are you saying, "I am Russell Searancke..."?!

Actually I should have said "Take it to the f-ning bank!"

Also, I should have said "Russell Searancke wishes he was Hemi"   

Our time is near, get the new block of ice and keep it on ice!

Hemi

Hmm... maybe that should be two blocks of ice as it would appear that there are two projects nearing completion.

Would it not be hilarious if TOT was sitting at the table for the E/A sell down and the Gulf Project?

Wonder who would like to be a "Strategic Exploration Partner" for all IOC leases.