06-07-2013, 05:43 AM
I know the one thing EVERYONE here agrees upon is that IOC needs to make a deal and that deal will enhance the value of IOC's other assets. But beyond all of the wonderful sounding bullet points listed above Exxon pays $1.10/mcf for gas off the top and gets its percentage of condensates as well? And only pays for its portion of the pipeline and CSP with all the existing wells and infrastructure thrown in by IOC as a sweetener?
What am I missing or is this some very elegantly worded joke? If true, that is one hell of a deal for Exxon.
Also, an important point to understand which seems to be missing from above, when LT is saying IOC is he saying IOC's partnership team which includes the government and Pac LNG or just IOC? If the former, IOC's take is significantly reduced, if the latter IOC's remaining interest in E/A becomes, as the attorneys say, de minimis. And what a deal for PNG! They get to buy up to 50% of the resource for the now established low low sale price of $1.10/mcf.
Paraphrasing LT above, let me clarify the transaction. This would not be selling gas to Exxon, rather it would be buying a friend. Partnership my eye. It's more like giving someone your house so you can spend a night in their bedroom. To paraphrase another coined expression around here, 'use us, then flush'.
Somebody, please, tell me where I'm wrong.
What am I missing or is this some very elegantly worded joke? If true, that is one hell of a deal for Exxon.
Also, an important point to understand which seems to be missing from above, when LT is saying IOC is he saying IOC's partnership team which includes the government and Pac LNG or just IOC? If the former, IOC's take is significantly reduced, if the latter IOC's remaining interest in E/A becomes, as the attorneys say, de minimis. And what a deal for PNG! They get to buy up to 50% of the resource for the now established low low sale price of $1.10/mcf.
Paraphrasing LT above, let me clarify the transaction. This would not be selling gas to Exxon, rather it would be buying a friend. Partnership my eye. It's more like giving someone your house so you can spend a night in their bedroom. To paraphrase another coined expression around here, 'use us, then flush'.
Somebody, please, tell me where I'm wrong.