Advice of Investment Bankers

[ltinvest]

It's an important detail to note the investment bankers for IOC gave them the green light on announcing the February 28th deadline.  They have been in ongoing and active discussions with the bidders and would never have recommended bringing this process to a finality if they did not have terms they believe represent fair value for the resource.  Additionally, the NEC approval of a contract opertator on November 15th was of great importance to IOC in the bidding process.  National Oil Companies, Utilities, and Super's are all amongst the final bidders and it has greatly increased competition.  Interoil is eager to bring this process to a close as they want to move forward with LNG plant construction and funding a more aggressive exploration schedule.  Finally, don't be surprised if deal terms include a partner(s) being admitted to prospect licenses to help facilitate greater exploration.