Civelli and IOC

[jft310]

Who has considered this fact. With all the upcoming drilling the minority interest has to pony up in advance cold hard cash .

With 3 wells announced for drilling start by March end and well costs of $50 million per that means $150 million to drill the 3

wells . The cash call to the minority interest would be at least $30 million. Petty cash to whom ????Further if they do not wire in

clear funds in 20 days they lose their minority stake . All per the agreements . Check it out!

So to think CC has all this leverage is just not so !

In fact IOC can make the cash call and get part or all of the minority interest for zero. How about them apples.

Conclusion so CC better hurry and sign or start raising money. Petty cash who thinks?

[ebster123]

JFT, my understanding is that Total is not moving forward until the IPI issue is solved. I also understand neither will PNG approve unless Total has moved forward. If this is the case (maybe I am wrong) the CC would have IOC by the balls.

[Tree]

What if TOT was prepped to move ahead w/o IPI closure?
Besides, Civelli's $billion+ stake in PRL 15 would be rendered nearly valuesluethless if he'd mishandle the IPI dealio.
Balls are not always in the hands that they seem.
'every little thing, gonna be alright'

[ebster123]

Hey Tree man, why you smokin da gonja?

[ltinvest]

I heard weeks ago Total might be willing to wave minority but-out clause if necessary. Also heard CC and MH had a nice recent chat in Switzerland.

[Tusker]

Hey Tree man, why you smokin da gonja?

Perhaps the better question is weather Tree is up wind or down wind or knows which way the wind blows.

A dilemma becoming a trilemma?

My quess is which way.

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[Palm]

I heard weeks ago Total might be willing to wave minority but-out clause if necessary. Also heard CC and MH had a nice recent chat in Switzerland.

Heard same lt; I like the way you hear. Imagine that; those most involved on the process are actually talking about this. Negotiating? Unheard of.

[sfiaes]

You guys are delusional.

How about using this forum to hold management responsible?

Instead, you make excuses and change the narrative.

Hession needs to address the issue he created. That is what leaders do.

[jdeo1969]

Sfiaes,

How do you propose he does what you ask?

[sfiaes]

Investor update via press release or conference call.