06-03-2013, 10:17 PM
Spot on Tree. Lets state the situation in clear terms. IOC has the NG and its their NG and Exxon needs that NG and the govt needs jobs for 9,000 persons at PNGLNG. In order for Exxon to get that NG they had to outbid Shell, Total etc. Result Exxon paid the rate of the closed PRE deal . That rate is more than a 50% reduction in their current rate with OIl Search. Everyone wins.

