Phil's Ace? - JAPEX/METI Mar. 2011

[Tree]

http://www.meti.go.jp/meti_lib/report/20...001610.pdf

Think JAPEX may not be a Duma approved partner for IOC? Can PNG say no to donor nations JP and SK? Which day does IOC announce JKM as chosen partners?
I think Palm first provided this JAPEX report from 2011. JAPEX appears to have coveted the Petromin partnership that Shell apparently bought. It is a very good thing for IOC and the quality/quantity of their assets that JAPEX has teamed with Mitsui and KOGAS and is pursuing E/A and beyond involvement.
JAPEX/Japan is offering much more than resource development to PNG. JKM is IOC'/PNG perfect development partners for the E/A and beyond. Correct me if wrong, but I don't recall Shell building power plants for host countries and providing the funding too.
Perhaps Chandler, WF, Cap Re and a few others understand these dynamics.

Some highlights.

**********

page 0-2
3. Project Summary
The main objective is to perform fuel conversion from diesel fuel to domestically produced natural gas produced at either the Exxon Mobil LNG project or the Elk/Antelope gas field being promoted by InterOil, and improve thermal efficiency, to obtain energy savings, resource conservation, and reduction in CO2 emissions. The benefits for Japan include the point that a final agreement will be obtained toward placing bids for acquisition of rights to the Elk/Antelope gas field, etc., now being implemented by Petromin PNG Holdings Limited, the state-owned petroleum and mining company with 20.5% back-in rights to both the upstream and midstream sectors of the Elk/Antelope gas field, and building a long-term strategic partnership withPetromin, as well as expectation of acquisition of carbon credits....


Host Country and Sector. Begins on page 1-16. PNG's development framework and JAPEX intentions. Understand this section and understand JAPEX's intention to win.

page 1-19.
2)Liquid Niugini Gas Project This a project headed by the independent InterOil Corporation, a Canadian company whose operations are based in PNG. The project is currently in the planning stages and has not moved to the development stage. The project in its initial stage envisioned transporting gas to the Port Moresby area, just as in the case of the PNG LNG Project, through pipelines on land and at sea, from the Elk/Antelope gas field, located in Kerema Province, in which InterOil holds an interest, and constructing an LNG production plant on land adjacent to InterOil's oil refining facilities, but a plan was subsequently announced to construct a small scale LNG production plant on the coast near the Elk/Antelope gas field, so the development plan remains uncertain.
It should be noted that a principal objective of the presentthis study is obtaining an advantage with respect to the negotiations to acquire an interest in this project, as well as the related upstream interests, held by the national petroleum and minerals company Petromin, which has the right of participation after development begins.

[Orlando]

Agree, Mr Tree.

If you are IOC and have an agreement with JKM to be the partner, but can not quite yet officially announce them as your partner, how do you unofficially announce it?

1) You let an Australian WSJ writer know JKM has come together to bid on the project.
2) You make sure it gets out that JKM has met with the PNG prime minister and that the meeting went very well.
3) In the regular conference call, you bring attention to points 1 and 2.
4) Whenever investors contact company officers, you remind them of points 1,2 and 3.

I like the extreme makeover Mr Tree. You and Nerlens must go to the same barber.

[jft310]

Japex wants those well results from T-2 and I think we are a go ahead.Some of the needed results will be revealed Monday AM in NYC at IPAA.I don't know if further test data will be needed.Cores etc.Fascinating stock to play

[Palm]

Remember that report well; the taproot is still in good working order.

JAPEX has been very interested for many years, but on their own lacked a few things. With KOGAS and Mitsui it is a complete package and they come from a position of huge strength with backing from 2 sovereign nations hungry for energy assets. Perfect match for IOC and PNG. They bring not only project abilities but lots of infrastructure backing from Japan and S Korea (bridges, roads, schools, hospitals, etc). Majors no can do; they are in it for profits and have poor record of supporting countries. Exxon does very little other than project related infrastructure. JKM is a far better partner material all the way around as we have been saying for over 2 years now.

[Tree]

Paucity of Historical Perspective

[Tree]

Sure it takes a few of years as you sign bi-lateral investment treaties, prove up resource, navigate a confrontational DPE Minister, thwart back door dealings, endure a constitutional crisis and national election, receive the NEC conditional approval for PA changes and have 3 IB's run a sale process on multiple continents.  METI has approved EWC's modular scheme, that validates all mid modular schemes for JP investment.

..."a plan was subsequently announced to construct a small scale LNG production plant on the coast near the Elk/Antelope gas field, so the development plan remains uncertain. It should be noted that a principal objective of the present this study is obtaining an advantage with respect to the negotiations to acquire an interest in this project, as well as the related upstream interests, held by the national petroleum and minerals company Petromin, which has the right of participation after development begins."

[Tree]

Lookie like the Ace turned up last weekend.

[Palm]

I believe this is what was just signed in Japan with JAPEX; the agreement to use EA gas for this switch from diesel to NG for PM power. Work to use XOM pipeline and pipe conditioned gas from EA down to PM. The first of several domestic uses of in-kind gas.

[Tree]

'All is Well'

[Tree]

'Short's are so _ _ _ _ ed'

Didn't JAPEX sign some kind of agreement with PNG this March??