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I stand corrected. Getting older . The bids need to be Mini Feed ready not FID ready to bid. This explains the Chevron trip with Morgan S. Chevron has finished Mini Feed and its really cheap to develop IOC's assets at E/A and they can compare Gorgon and its rising $46 Billion cost with IOC's project. If a Chevron investor they should be pumped with IOC. I see the Saturday night cocktail party as a back slapping affair. PNG wanting a strong bidder and the bidder wanting to win the bid. The bid prices rise with PNG govt approval and rise again when there is a request for final bids. Its competition for what Henry Aldorf states is a 13 T's field E/A.
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This all is most likely why we have heard the revived talk of EWC recently. As we have been saying there could be a smaller startup with EWC and Flex; both are through FEED. As well last fall it was stated that Mitsui is through FEED as far as the EWC/Flex option on their CSP(s). We also know that IOC has sized the pipelines and let bids for that and was authorized by the board to proceed with certain project requisitions. This gives them a startup near-FID ready project and at that point they need an operator. What we don't know is the proposals for beyond startup. This leaves it open to any of the bidders with XOM and JKM the most familiar with PNG and the project itself. The third (Shell, Chevron ?????) might take some time to get up to speed, but these bidders have had the data and info for a year. They've already spent lots of time and a chunk of money on this. It didn't take XOM but 4 months after project approval to get to FID.
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'jft310' pid='10454' datel Wrote:I stand corrected. Getting older . The bids need to be Mini Feed ready not FID ready to bid. This explains the Chevron trip with Morgan S. Chevron has finished Mini Feed and its really cheap to develop IOC's assets at E/A and they can compare Gorgon and its rising $46 Billion cost with IOC's project. If a Chevron investor they should be pumped with IOC. I see the Saturday night cocktail party as a back slapping affair. PNG wanting a strong bidder and the bidder wanting to win the bid. The bid prices rise with PNG govt approval and rise again when there is a request for final bids. Its competition for what Henry Aldorf states is a 13 T's field E/A.
What a bunch of baloney.
VS
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A common use of betel nuts is in ritualistic chewing, which causes mild stimulation and a feeling of well-being. The popular use of betel nuts throughout Asia, India and the Pacific makes it one of the most popular stimulants in the world. The betel nuts are chewed slowly over several hours and are commonly combined with tobacco.
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'Petrovale' pid='10472' datel Wrote:A common use of betel nuts is in ritualistic chewing, which causes mild stimulation and a feeling of well-being. The popular use of betel nuts throughout Asia, India and the Pacific makes it one of the most popular stimulants in the world. The betel nuts are chewed slowly over several hours and are commonly combined with tobacco.
I'd suggest you call WA and suggest the negotiators break out the betel nuts and tobacco.
VS
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VS
Not good man!
Why??
Answer these ??
Is IOC's project cheaper then Gorgon??
Is Morgan taking the Chevron group to PNG Saturday??
Is there a Cocktail Party on PNG sponsored by the PNG govt Saturday night??
Are these same investors going to see the IOC wells on Sunday?
Is Carlo Civelli going to get clawed back and sell his interest?
Is Carlo Civelli on PNG this week??
Did you ever view the Aldorf LNG Conference Tape.??
Did Henry state several times that he thought IOC had 13 T's at E/A at that filmed Conference.
Has IOC Mgt asked for any Bid to be FEED ready?? Mini FEED ready??
Is Chevron a bidder??
Did you read the story about Potape and Chevron??
Is their an NEC meeting Monday ??
Will the bids rise with NEC approval??
Just look up the above answers or call IOC mgt and verfiy.
Do you own enough shares for you to be on the radar screen of IOC mgt or not??
Will they call you back or do you have to go to them at a meeting??
TIA!!
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If I remember correctly, XOM is currently building two trains and has plans for adding trains 3 and 4, given enough gas. I doubt they have enough pipeline capacity to go to 8 trains, in which case another plant in the Gulf would make plenty of sense costwise, especially given the amount of gas likely available there and the Mitsui CSP plans available, not to mention the political pressure to build in the Gulf province.
Everyone should also keep in mind the current locations for the CSPs are best, and would probably fit into any bidder's plans, with Mitsui's detailed FEED complete at significant cost and ready for FID on that part of the project, unless they end up adding some for temporary re-injection.
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The JKM bid seems to make the most sense. Even if its $2 thats 4 times the current price. Talk about a win for IOC.
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Its a WAG on JKM..I don't know and agree others have interest. I think the PNG govt likes JKM. We have the Kogas comments, the Mitsui option and Japan need for LNG Big time. Thats why I stated what I did about making the most sense. Fits with whats known to be true. Others can outbid JKM but like Petronas outbid Exxon the PNG govt took Exxon. Could Exxon win again one can see that possibility. Their need for 2014 NG, the T at Gulf province etc. Chevron needs a project Gorgon is cost overrun city and they have cancelled another project in Australia.There are more then other choices besides JKM being the winner. I hope we know soon.
