04-17-2013, 11:08 AM
To my opinion, for a JVOA to be executed by the Government it first requires the JVOA to be agreed among the Partners ... in PNG LNG's case it was agreed by :
+ XOM
+ Santos
+ Oil Search
+ AGL
+ Nippon Oil
+ Landowners
The government was not included; they opted in later, thus reducing the other's shares commensurately.
So please posit for us Tree ... exactly who do you think it was who negotiated the JVOA's (plural) with IOC and then signed same?
The signatories should have been announced, just as they were by XOM for the PNG LNG Project you quoted.
If the partners have not yet been included then they will have the right to demand reopening and possible modifications to the JVOA's at a later date.
Nothing seems to be going "according to Hoyle" in the Gulf LNG Project and that's why there are so many non-believers in the investing world.
DISCLOSURE: I have been very long IOC stock for 5 years
+ XOM
+ Santos
+ Oil Search
+ AGL
+ Nippon Oil
+ Landowners
The government was not included; they opted in later, thus reducing the other's shares commensurately.
So please posit for us Tree ... exactly who do you think it was who negotiated the JVOA's (plural) with IOC and then signed same?
The signatories should have been announced, just as they were by XOM for the PNG LNG Project you quoted.
If the partners have not yet been included then they will have the right to demand reopening and possible modifications to the JVOA's at a later date.
Nothing seems to be going "according to Hoyle" in the Gulf LNG Project and that's why there are so many non-believers in the investing world.
DISCLOSURE: I have been very long IOC stock for 5 years