03-10-2013, 02:37 AM
If a partner is not announced this week, we can likely infer that 1. Bids were not accepted due to price offered or 2. The structure and conditions needs more work (I.e. whole process in limbo waiting on more negotiations). Or 3. Structure or equity of binding bids has to be reformulated...JKM gets more% or gets non-op equity vs operatorship...I believe there is a mix of bids that will be most valuable. So really really hope IOC has planned for this.
All 3 are not good from a stock price standpoint....I expect IOC has done this such that they will be able to select partner(s) straight away. Of course, conditions from a major could very well be related to the type or perhaps a more specific list of non-operated partners that IOC could select or that XOM would not want to be a partner with....
All 3 are not good from a stock price standpoint....I expect IOC has done this such that they will be able to select partner(s) straight away. Of course, conditions from a major could very well be related to the type or perhaps a more specific list of non-operated partners that IOC could select or that XOM would not want to be a partner with....