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+--- Thread: Transformative CC notes: (/showthread.php?tid=5413)
Transformative CC notes: - Tree - 12-07-2013
Starts with an aubible calling for delay of start.
Hope Hession is as convincing a liar that he was last CC.
More to follow
RE: Transformative CC notes: - Palm - 12-07-2013
PRL 39 granted by Duma for Tri
RE: Transformative CC notes: - Palm - 12-07-2013
Valuation metrics will be filed with SEC and SEDAR later today
RE: Transformative CC notes: - johnwgrant - 12-07-2013
I like $1.29 per mcfe !!!!
RE: Transformative CC notes: - Palm - 12-07-2013
1.29/mcfe assuming 10Ts. Very nice
RE: Transformative CC notes: - Tree - 12-07-2013
Hession:
Just back in Singapore from PNG.
Lost the connection, Hession is back now.
'Very, very, very pleased to tell you we delivered on the E/A deal.'
Lost connection again.
'We have a deal with TOTAL, next couple of hrs. clarity is coming and Agreement will be launched on SEC, SEDAR within about 4 hrs."
"Combine SPA and latest research report will give the value of this deal"
"Clarification of deal PR after CC"
"Received PRL for Tri from Duma today"
"Why we chose TOTAL, competition between bidders to the very end.
1) TOT is highly incentivized to develop PNG
2) This is a simple JV, only TOTAL
3) TOT has rewarded IOC with incentives for growing existing reserves and higher PRL15 #s after drilling.
4) TOT put forward our best option
5) 3 main Staged Payments are great, further resource payments could be even better.
6) 3.5 Tcf to 5.4Tcf IOC nets .77/Mcf
7) 5.4 Tcf to 6.5 Tcf IOC nets 1.03 Mcf
8) Above 6.5 Tcfe IOC nets 1.29 Mcfe
9) These numbers are UNCAPPED.
10) If resource is 5.4 Tcfe IOC gets 1.5 Billion
11) 6.5 Tcfe 2.1 Billion
12) 9.89 Tcfe (GLJ) 4.2 Billion
13) High case 11.70 Tcfe 5.5 Billion
14) And it goes on as it is uncapped
RE: Transformative CC notes: - Palm - 12-07-2013
Uncapped upside. If they hit best case GLJ, 1.90/mcfe
RE: Transformative CC notes: - AD123 - 12-07-2013
Palm - where are you getting the $1.29?
RE: Transformative CC notes: - Tree - 12-07-2013
TRI lease is renewed as of today.
Exploration licenses will be renewed, transcript from Duma stating so will be on IOC website
3 carried wells, will appraise PRL 15
IOC will be rewarded $100 mill of undiscovered gas in PRL 15 (above 9.89 estimate), payable at first LNG cargo.
This really is a transformational deal that we've done with TOTAL.
Love to think that this is first of many trains, deals, with TOT
RE: Transformative CC notes: - Tree - 12-07-2013
Questions:
Calio:
Congrats- SPA sounds better than initial read of PR. IPI holders, how are they being dealt with?
MH- IPI are off the license. (soundie like dilution, IOC is to pay IPI)
MH- TOT described a potential Sell Down in their PR, focussed on 1 of the #s in 1 of the tranches. , IOC is putting the whole SPA in front of you