'cybersssss' pid='18977' datel Wrote:I find it very hard to believe that the visit to Japan is primarily concerning Interoil and "the deal." As it was said by the company, the bidders have been pre-approved so there really is no "feeling out." The company needs to decide which is the best deal for them. The government should have no say as to who they choose once the conditions they set forth are met. Bidders being preapproved implies to me that the condiitons have been met with these bidders.
I think PNG still "has say", from a legal standpoint, because the proposed deal likely doesn't comply with the specific terms of the old PA. IOC wants a different size/structure; PNG has already given the "tentative approval"; PNG has assigned a committee to "negotiate" the new PA...but the task hasn't been formally accomplished to date. In theory the bidders may have all been "pre-approved", but the terms of the deal also need to comply with the old contract terms...or they need a new formalized document revising the acceptable terms. That is where I think PNG's continuing "say" comes from. It is quite possible that the committee didn't finalize the new PA before now specifcally so they could see the "winning bid" first and retain some negotiating power. One could infer that IOC has disclosed to O'Neil that JKM has "won" the bidding as far as IOC is concerned, and that this trip is what O'Neil wants before giving the final go-ahead for the revised PA. IOC hasn't announced anything yet because there is no "deal" without the new PA. If so, we might get all the news at the same time.