IOC/XOM Deal Struck?

[johnwgrant]

Not to rain on anyone's parade, but,... It always takes longer than you think... I have expressed my "target" timeframe as being the 2nd week of December. That being said, I'll "believe it when I see it" is the best approach.

Go InterOil !!! Go Hession !!! Make our week and announce a deal !!!

[cybersssss]

If this is the case I cannot imagine it would take too long for the companies to make a decision. If XOM has made their decision then the other should follow suit in a very timely fashion. These are much smaller companies and more nimble with less ladders to climb then XOM. A week or two is the most I would think they need.

I take MH at face value. Not reading into it. By end of the year is fine with me.

[sageo]

I agree that these scenarios are likely very close the current situation. I think we will hear of a closed deal before 12-31, but digesting its terms and conditions and putting likely numbers to them will take a few days at that time. We could see two bounces in the stock, or more, that way, with only a little algebra in between. Just MHO.

My experience is that it is very difficult to get things done in December, especially after early December.  There also may be advantages to deal being official in December.  Therefore from my memory,  I would say a deadline of (at latest) Dec 6 would be my choice for latest that final answers are due from others.  ...trans

 ' Trans'- I belive your experience is well-founded. I get a strange,nervous feeling when I think of this deal going beyond Dec. 6 or 7th.(maybe because after then,"time slips away"on other pressing concerns.)  Just hope that 'feeling' turns out to be (as our aussie friends might say-"no worries" . GLTY.

[Palm]

But recall that both PNG LNG and IOC project agreements were approved around Dec 20th 4 years ago. Yes, it's painful to think about that, but also remember that PNG LNG had XOM as the operator and offtakes were mostly spoken for and some financing commitments in hand.

[sageo]

But recall that both PNG LNG and IOC project agreements were approved around Dec 20th 4 years ago. Yes, it's painful to think about that, but also remember that PNG LNG had XOM as the operator and offtakes were mostly spoken for and some financing commitments in hand.

Palm- Good point.....well-taken !  Now maybe that short hair on the back of my will lay down again! ( and perhaps the pps will bleed a little less each day while we wait patiently?).

[sageo]

But recall that both PNG LNG and IOC project agreements were approved around Dec 20th 4 years ago. Yes, it's painful to think about that, but also remember that PNG LNG had XOM as the operator and offtakes were mostly spoken for and some financing commitments in hand.

Palm- Off topic for a moment, but do you (or any other sharp board members) remember the words spoken at the cc concerning Wahoo in Nov.? I thought,maybe I'm wrong, that we would be drilling either the one well site or the alternate site as shown on one page in the presentation as of this month. [yes, I do realize that Nov. isn't over yet but it is getting close] . Any light shed on the starting time-frame would really be appreciated. TIA

[Getitrt2]

Sageo, before the decisions and initiation of actions on the new 6-well drilling program, there was an expectation of spudding Wahoo with Rig 2 in November, but that has now changed. Since one of the first three exploration wells to be spudded is Bobcat in PPL 238, in the jungle between E/A and Triceratops, the heliportable Rig 2 is being mobilized to go there. In the meantime, Wahoo-1 in PPL 236 is near existing roads, and the drill site and side road to it are almost complete. Since Elk 3 will not be drilled now, Rig 3 is being mobilized from there to go to Wahoo by water and road; and while not certain it could very well be spudded in December. Drill site clearing is already underway for Raptor-1 in PPL 237 with PRE, which is near existing PRL 15 infrastructure, and it will be drilled with an already contracted WDL rig. Also, contracting of a fourth rig is almost complete, and it is planned to be used for a new appraisal well in Antelope. It is anticipated that all four wells will be spudding by early 2014. IOC could actually have FOUR wells drilling AT THE SAME TIME, and I can hardly wait! Furthermore, an appraisal well is planned later for Triceratops with PRE, and another exploration well is planned for Big Horn in PRL 15, where seismic work is currently underway. See the Q3 presentation. EXCITING TIMES COMING!!!

[sageo]

Getitrt2 -- Thank you very much for your update ! Now I can put the ol' body to sleep tonite and not be apprehensive.Again, thanks for your reply.

[sageo]

Getitrt2 -- Thank you very much for your update ! Now I can put the ol' body to sleep tonite and not be apprehensive.Again, thanks for your reply.

  Getitrt2-Sorry man,but I tossed and turned all night! When I thought about your post ending of ....EXCITING  TIMES AHEAD ...,I just couldn't help myself. I kept thinking about the new version of "lions,tigers and bears,oh my"  which is "wire-line logs,side-wall cores and dst's,oh my" ! .....plus,with all these rigs turing at once,sleep just evaded me. With our 'yellow brick road' now being paved with hydrocarbons,i.e. nat gas and condensates,even if we hit on 50% of the first 4 wells we will be in (as my old grandpa used to say) "hog heaven" ! Thanks again for your post on our up-coming drilling plans.

[admin]

["with all these rigs turing at once,sleep just evaded me"]

Well, you better get some rest now, because once these drilling updates start piling up, we need you (and pet) here to make sense of them.

For me, that's the most fun part by far, it's like unwrapping gifts at Christmas. You don't always get what you want though..