(06-05-2013, 09:59 PM)Petro2458 Wrote: JFT. Good post. I'd like some thoughts and discussion on the following: - operatorship? Who gets it - if enough gas is there for 2 trains, why are we only talking about 1? - what's the deal with govt't take and threat to take or buy up to 50%
Maybe they are talking about 2 trains, but maybe no one is ready to reach a deal on 2 yet. They left that possibility open. XOM and OSH are still looking for gas, and IOC is still looking for gas and looking at a Gulf LNG plant.
The government never threatened to "take" more gas, just got an option to buy more at commercial prices. With this XOM deal, forget about that; there is no expectation of their buying more. Expect them to exercise their option for 22.5% at cost and to sell 22.5% of the gas sold to XOM, which probably would be used to pay toward their costs, including in part to IOC for reimbursement of their share of previous exploration and development costs.
I somehow missed some of what had already been posted, petro and others. All intriguing and exciting.