03-29-2013, 12:18 PM
I'll go with Palm's interpretation. Shell had all the information for bidding without signing the CA so whether they did or not is of little consequence. If there is something extraordinary going on it may be that Shell, realizing Petromin is being dismantled along with their controlling access to PNG's hydrocarbons, is now mounting a takeover bid for IOC.
BTW, I think the recent talks with the Thais and the Japanese suggest the bid for E/A will be closer to $3 than $2. Add $5 for LNG processing and transportation and those countries have $8 gas (and competitive once again with North American industries). They couldn't let that opportunity get away.
BTW, I think the recent talks with the Thais and the Japanese suggest the bid for E/A will be closer to $3 than $2. Add $5 for LNG processing and transportation and those countries have $8 gas (and competitive once again with North American industries). They couldn't let that opportunity get away.