01-26-2013, 02:12 AM
Did we ever get the "full" details of the Mitsui option? From memory alone, it seemed they would finance the Condensate stripping plant (est to cost $500 Million) and own 1/2 of it with the right to buy all the condensate at $30 (?) per barrel.
In this scenario, they would have paid $250 Million (InterOil's half) for the privilege of getting inexpensive condensate.
The option to buy 5% is unclear to me. Would they be paying $250 Million for this 5% (effectively their 1/2 of the CSP would now be owned by IOC) or some other amount !?!? As I say, this is very fuzzy in my mind. I'm not sure if I have all facts right - nor am I sure if the Mitsui option has been fully explained by InterOil...
In this scenario, they would have paid $250 Million (InterOil's half) for the privilege of getting inexpensive condensate.
The option to buy 5% is unclear to me. Would they be paying $250 Million for this 5% (effectively their 1/2 of the CSP would now be owned by IOC) or some other amount !?!? As I say, this is very fuzzy in my mind. I'm not sure if I have all facts right - nor am I sure if the Mitsui option has been fully explained by InterOil...