[quote='Tree' pid='20367' dateline='1365510777']
..."but doesn't it also quite possibly mean we wait until the legislature creates the new entity before PNG is in a position to "sign off" on the deal?
No. Petromin is still functioning entity and will be until Septmber. Recently signed JAPEX MOU is with Petromin. Petromin can enter into Gulf LNG and then be reorganized into Kumul Petroleum as the legislation allows, and that is what will happen. Petromin has been slated for dismantling for many months and this just didn't happen in the last 2 weeks.
========
I guess I was considering the comment by "Insiderr" which said the bidder required this restructuring as part of the deal. We obviously don't know if Inciderr is legitimate or not, but taking the post at face value, one could wonder...if it was important enough to the bidder that Petrominbe be eliminated (and they apparently acquired that concession from PNG), are they now going to sign the deal with Petromin...or be cautious and wait to sign it with the entity that they demanded be created?