Interesting comment on SEDI for Isikeli Taureka options

[Palm]

Was looking at SEDI to see whether they have listed initial options to be granted to Dr Mike.  There is a notation of an "opening balance", but no option amount is yet listed.  That's dated as 7/11/2013.  An interesting note under the account of Isikeli Taureka, the replacement for C. Vinson.  He received 60,000 options as reported previously, but the notation says his option vest, "to the earlier of Change of Control or FID of LNG Project".

Change of Control hints at interesting possibilities.

[Movieguy]

"Change of Control," may be more about covering all potential circumstances, as opposed to an expectation or likelihood. But it seems to me that "FID of LNG Project," seems to state decisively that a deal for a separate LNG plant is not that far off, as opposed to continuing to supply gas for additional trains to the Exxon plant.

Great find, Palm.

[calaban48]

Change of Control hints at interesting possibilities.

Could it be anything other than a reference to a possible buyout? <g>

[Getitrt2]

Could "FID of LNG project" include FID on expansion of PNG LNG in which IOC has an equity interest?

[Palm]

When all of this was going on with the change of leadership there were many questions of why someone who is top caliber might come in before any deal announcement when there is a possibility of a buyout. Why come in, then possibly lose control? Only way would be to get a boatload of options which vest should a buyout happen. That's why I've been interested in seeing how may options are granted to Dr Mike. Taureka is definetly a heavy hitter, and Dr Mike is more so. Taureka received 60,000 options; Dr Mike likely will get upwards of 100k. This way neither will stand in the way of any good buyout offer. Keeps things interesting and shows IOC feels a buyout is at least a distinct possibility still.

[Palm]

Interesting question Getit