'Petro2458' pid='12602' datel Wrote:A few comments: 1. NEC Approval and Details - look forward to this milestone being released officially. Important that the company put the facts out in a clear way. 2. All makes perfect sense: no one willing to bid on a monster plant. 4 mtpa puts them in the "sweet spot". 3. "gas in kind": several ways this can work. and project timings are critical. As PNG power infrastructure may not be ready by the time production starts...and even when it is, the reliability will be a challenge. So this is probably the reasons for upcoming meetings. 4. All the hypothetical chatter last night was fun...but speculative and still very uncertain how this plays out. 5. $62.50 is cheap. 6. Elk3 spud will meet the deadline. 7. PRE confirmation / formal acceptance will be another key delivery for IOC...look forward to this announcement as well. 8. Short thesis is crap: at what point do they turn on each other. Don't wanna be the last million shares to cover.
I'm torn between competing thoughts. Part of me thinks..."I appreciate the clarity of where they are and I like the direction things are going". The other part of me is frustrated that we "still have a ways to go". Although the specific hurdles identified this time are a little different, the upbeat message from this conference call (which leaves us thinking "we're almost there"
reminds me an awful lot of the last two or three confernce calls. At some point I would like to do more than just look at and smell that carrott.
I would also like to take issue with the conduct of JFT310 who last night wrote:
You better read Trees post again.I confirmed what he says 10 minutes a ago.
LNG deals
1)EWC , modules delivered Jan 2013
2)A sell down with names mentioned .
3)FID this year.
4)No company IOC's size has ever done what Phil has done.The SM do them but look at their results. Exxon $3 Billion over budget, Gorgan 3 SM's and they are $20 Billion over,
EWC pays for all of the cost overruns!!!!!!the key word is ALL.
The stock will have a NAV value post FID well over $200 per share.
Look at the cash flows in the AM.
5)Standard Charter is backing EWC. Seperate EWC announcement in the AM.
This wasn't presented by JFT as optimistic speculation...it was presented as fact. Several members asked him to clarify how he "knew" this and he did not respond. We now know definitively that no deals like this could have possibly been done because IOC needs the NEC documentation (official approval) before they can even get final bids; know the final players; or even know the exact structure of the deal. So, to me this sounds like flat out fabrication by JFT. I don't see posts like that as having much integrity...which is why we avoid all the Yahoos on the other board. Is this okay with everyone?