First Week of March

[petrengr1]

Exxon will have a 3 hour web cast on March 6th. I wonder if IOC will deserve a mention by then?

http://ir.exxonmobil.com/phoenix.zhtml?c=115024&p=irol-EventDetails&EventId=4880162

[TxPm]

Pet, for what it's worth I'm positioning my portfolios with the expectation that we don't hear anything until the second half of March or early April. If it happens by this CC ill be pleasantly surprised

[Petro2458]

The fact that IOC announced that immediately following the partnering process closing on feb28 that the BoD will meets to select a partner(s):

- Phil and the IOC team will be presenting to the BoD March 4 week and recommending a deal. The BoD will see a well worked recommendation. My opinion...

- The Process must be worked such that immediately after the selection is made: binding docs can be executed.

I can't imagine after all this time that IOC would keep shareholders waiting .. The intent here is to slam the door shut on this phase in the company and move on to the next.

Plenty of unknowns (gov't take, structure... im hoping a major buys interest in the field as i think this is most value adding option vs by train) but we will know very shortly.

-

[Justin94360]

Petro, I agree, I don't think there will be too much of a decision for/by the BOD - by the time the bids are in IOC will know which route they want to go down. I envisage a SD and partner announcement in that first week of March.

[jft310]

IMHO IOC knows who they want to partner with and the others are coming up with Plan B. Plan B may involve some offers to buy it all. Several informal offers have been rejected .Several from Total the rumor thinks.

[Getitrt2]

The fact that IOC announced that immediately following the partnering process closing on feb28 that the BoD will meets to select a partner(s): - Phil and the IOC team will be presenting to the BoD March 4 week and recommending a deal. The BoD will see a well worked recommendation. My opinion... - The Process must be worked such that immediately after the selection is made: binding docs can be executed. I can't imagine after all this time that IOC would keep shareholders waiting .. The intent here is to slam the door shut on this phase in the company and move on to the next. Plenty of unknowns (gov't take, structure... im hoping a major buys interest in the field as i think this is most value adding option vs by train) but we will know very shortly. -

Petro, IOC fully expects the winning bidder to buy into the field, the entire resource, which would be the source of the up-front cash as part payment, as well as the first phase of the LNG project;  it's just a matter of what percentage interest.  Given the indication now that PNG almost certainly will not acquire more than the 22.5%, it is likely that resource interest will be larger, probably the same partnership interest as in the LNG plant first phase.

[sageo]

Exxon will have a 3 hour web cast on March 6th. I wonder if IOC will deserve a mention by then?

http://ir.exxonmobil.com/phoenix.zhtml?c=115024&p=irol-EventDetails&EventId=4880162

  Pet -- Thanks for the info on the web cast. As an aside,I seem to have a mental block.... have we already completed all the casing job on the Ant3 to the bottom? TIA.

[Justin94360]

I heard casing will be finished in the next week.

[johnwgrant]

Does it make any sense not to run the production tubing until "later" - ie, right before you are going to produce ANT-3 ?

[sageo]

I heard casing will be finished in the next week.

--

Justin-- Thanks.