I am hearing a lot of confidence and optimism out of IOC. In the last 18 months before he took over IOC, Hession was a primary mover in getting three LNG deals of this sort done. Those were done without any granting of exclusivity, and he has now terminated the exclusivity with XOM and is getting this one done, with action having accelerated recently with XOM even more, and with other options available beyond XOM. He is also working very closely with the government, whose interests are very much in alignment with IOC's, and which is working and cooperating fully with IOC, both with getting the LNG deal or deals done and with acceleration of exploration and drilling. IOC now has a highly experienced and effective man of action in charge and making solid progress on all fronts; and he has the biggest discovery in Asia in the last twenty years, and something XOM cannot get anywhere else now, and prospectively a hell of a lot more, to work with.
Perhaps I should also add that the PNG government leaders have not forgotten the role IOC has played for the last 15 years or so and still plays in PNG, and the fact that InterOil stuck with PNG over the years through hard times, and continued working and exploring and investing when basically everybody else had left.
