04-17-2013, 09:17 PM
The PRE Tri and 237 JVOA was executed (Corporately approved between the partners) last Nov., now the State has approved it. Makes a take-over more costly now as PRE would need to be dealt with.
..."Collin Visaggio said the JVOAs were new and “did not exist before”.
The PRL 15 partner selection announcement looooooooooooooms.
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InterOil Executes Joint Venture Operating Agreement With Pacific Rubiales Energy For Triceratops and PPL 237
November 29, 2012
Port Moresby and Houston, TX — InterOil Corporation (NYSE: IOC) (POMSoX: IOC) (“InterOil” or the “Company”) announced that negotiations have been completed and the parties have executed the Joint Venture Operating Agreement (JVOA) and related documents associated with its Farm-In Agreement with Pacific Rubiales Energy Corp. (TSX
RE; BVC: PREC; BOVESPA: PREB) (“PRE”), pursuant to which PRE will acquire a 10.0% net (12.9% gross) participating interest in Petroleum Prospecting License 237 (“PPL 237”) onshore Papua New Guinea, including the Triceratops structure and exploration acreage located within that license. This announcement is made further to the Company’s announcement on July 30, 2012 that it had executed a Farm-In Agreement with PRE.
Signing of the JVOA and related documentation accomplishes one of the key milestones to final completion of the Farm-In transaction, which remains subject to previously announced closing conditions and approvals.
..."Collin Visaggio said the JVOAs were new and “did not exist before”.
The PRL 15 partner selection announcement looooooooooooooms.
**********
InterOil Executes Joint Venture Operating Agreement With Pacific Rubiales Energy For Triceratops and PPL 237
November 29, 2012
Port Moresby and Houston, TX — InterOil Corporation (NYSE: IOC) (POMSoX: IOC) (“InterOil” or the “Company”) announced that negotiations have been completed and the parties have executed the Joint Venture Operating Agreement (JVOA) and related documents associated with its Farm-In Agreement with Pacific Rubiales Energy Corp. (TSX
RE; BVC: PREC; BOVESPA: PREB) (“PRE”), pursuant to which PRE will acquire a 10.0% net (12.9% gross) participating interest in Petroleum Prospecting License 237 (“PPL 237”) onshore Papua New Guinea, including the Triceratops structure and exploration acreage located within that license. This announcement is made further to the Company’s announcement on July 30, 2012 that it had executed a Farm-In Agreement with PRE.Signing of the JVOA and related documentation accomplishes one of the key milestones to final completion of the Farm-In transaction, which remains subject to previously announced closing conditions and approvals.