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The strong rumor Getitrt is another 10% sell down with PRE early next week for TRI.. Same price. IOC to get another quick $60 million. The rest of your post agrees with what I hear. Good stuff.
Wild one also out there- Maybe PRE will do the sell down for E/A vs TRI. Have to wait and see. Or is the TRI/PRE talk just to get the bids up.??How would PRE work with EWC and Mitsui??
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Art, I think you "got it right"!
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Jft if this is what your hearing that's very interesting. Do you think this new deal would be at a new price or same price? Since this deal was first announced Triceratops has been tested and proven more which in theory should raise the price
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Tx the final price for PRE to pay would be determined by the total amount of assets produced. The fact T-2 found what was hoped and maybe more would motivate a buyer to add to their position. PRE paid a premium on the first round.IOC receives $2.85 per mcf and $30 a barrel for condensates thats quite bullish.Selling more by IOC is great at just those prices. Most importantly it confirms that price right before the PNG ministers meet that Gas Commitee. They that commitee need a pricing formula for the NG and a tax abatement number .Or IOC goes into that meeting looking strong.
