12-20-2012, 03:42 AM
Saw this this AM and I would guess they will try some sort of offering or at least float the idea (no pun intended). They have a very strong llarge investor base and I'm sure they have already received a lot of advice. IMO this is another instance of some porr handling by PNG where they once supported the idea of FLNGs and now have backed away. Petromin had the NEC approve the technology in Dec 2010 and IOC haddiscussions with Petromin about using the Flex/SHI ship, but Petromin wanted too much control and discussions fell apart; as well with the idea of using Petromin's Daewoo FLNG. So possible bad investment to purchase a share of Flex. We'll have to see how this all turns out.