Conference Calls- Exxon vs IOC

[Palm]

Don't recall anyone saying that legally IOC couldn't say anything. IOC has already said publicly what Exxon did; that major terms have already been agreed upon. References to legality were to saying any more than necessary which could bring problems down the road (with Excon, the government or shareholders). IOC has already said what they need to say. In fact, a review of the MD&A reveals words like "when" not "if".

Hession reiterated that negotiations were ongoing and still exclusive. Previously he said they were going very well. But we've also heard that Exxon prohibits revealing details or it could jeopardize negotiations. IOC is best to comply.