04-12-2013, 10:27 AM
I can absolutely guarantee any delay is not due to Petromin. Delay is most likely due to rebids (which I am sure was made know with the final bid notice for the 28th). Think about it, if IOC has to wait 8-12 weeks longer to get another round of bids from the losing parties that may then:
- increase the bid/mcf by 0.25
- get a guarantee that any cost overruns are absorbed by the bidder
- gets a bigger upfront cash injection
- bidder takes a smaller percentage of the resourse
Don't you think that is worth the wait a measly 60-90 days. We are talking hundreds of millions of dollars here and a relatively short timeframe. E/A is the prom queen and everyone wants to take her home, just ask Woodside.
Use or Flush and Keep it on Ice,
Hemi