SA on Total and PNG

[ebster123]

Seeking Alpha @ 10:27am

"Total's (TOT -0.2%) foray into Papua New Guinea is off to a shaky start, with two exploration wells yielding only "modest" amounts of natural gas. Analysts see the drilling results as "mixed" in view of the quality of the rocks encountered by the wells. Big discoveries by companies including Exxon (XOM), InterOil (IOC) and Talisman (TLM) have turned the country into one of the world's hottest energy plays. Read comments"

[admin]

Well, they know on which door to knock if they want wells for grown-ups..

[Palm]

But likely this story is being used as a reason to sell IOC today. If TOT is seeing modest results offshore that must relate to IOC's onshore proven resource right? No, but that's the reason of the day to sell IOC IMHO.