Legal Nature of the Papua New Guinea Petroleum Arrangement

[CAC]

I FIXED THIS...  

http://www.paclii.org/cgi-bin/disp.pl/journals/MLJ/2003/6.html?stem=0&synonyms=0&query=application%20and%20for%20and%20pdl%20and%20png

[WE THINK/HOPE] IOC and partners have nothing to worry about regarding any license extensions, PRL or PDL approvals, JVOA approvals or selling a stake or building an LNG project as long as IOC works in good faith operating within the legal nature of the PNG O&G Act and subsequent agreements [WHICH WE THINK/HOPE PNG AGREES THEY ARE DOING] .

1)  [WE THINK/HOPE THE] 2009 PA will not expire leaving IOC without a PA

2)  PDL's are not granted they are earned.  [WE THINK/HOPE PNG AGREES THAT] IOC is doing as needed to earn the approval and that cannot happen until new partners are named and project is FID ready in detail.

3)  [WE THINK/HOPE] Exploration license extensions wil be granted as IOC continues to work in good faith within the legal frmework to earn those extensions.

4)  PNG has the safest type of  O&G legal framework for IOC and others to operate within.  Subject to legislation, not case by case [political agreements.

5) WE THINK/HOPE RDS IS ETHICALLY ABOVE TRYING TO USE THIS ISSUE IN A WAY THAT HARMS IOC...OR THAT PNG IS NOT SUSCEPTIBLE TO IT.