08-16-2013, 10:38 PM
northoil • 2 minutes 18 seconds ago Flag(yahoo)
1users liked this postsusers disliked this posts0Reply
Stay (Just a little bit longer)
Given recent market action, it’s hard to stay the course, but the positives are pretty strong:
1. The exclusivity period is a negotiating tool but not that big a deal. IOC doesn't want to start over with someone else (don't forget, Exxon made the BEST initial offer; the next company , Shell or whoever, offered something less). And the upstream is cutthroat. Exxon would never let Shell or Total into its back yard if they could help it. So, the deal with Exxon WILL happen. Exxon wants to control the world, let alone PNG. They need the gas, they want the gas and for those who understand how exploration is conducted, IOC is sitting on a lot more gas and Exxon knows it. We can’t predict when, but “if” is not an issue. Exxon wants this deal, they want the exploration upside and they will have it. It won’t be too much longer. I hope.
2. The recent price disaster has wiped through a lot of stop losses and weak hands. People who were thinking of selling have sold. Who’s left? Duh … only buyers and 11 million short shares which have to be covered. The day of the announcement will be a 4 million share day, maybe more
1users liked this postsusers disliked this posts0Reply
Stay (Just a little bit longer)
Given recent market action, it’s hard to stay the course, but the positives are pretty strong:
1. The exclusivity period is a negotiating tool but not that big a deal. IOC doesn't want to start over with someone else (don't forget, Exxon made the BEST initial offer; the next company , Shell or whoever, offered something less). And the upstream is cutthroat. Exxon would never let Shell or Total into its back yard if they could help it. So, the deal with Exxon WILL happen. Exxon wants to control the world, let alone PNG. They need the gas, they want the gas and for those who understand how exploration is conducted, IOC is sitting on a lot more gas and Exxon knows it. We can’t predict when, but “if” is not an issue. Exxon wants this deal, they want the exploration upside and they will have it. It won’t be too much longer. I hope.
2. The recent price disaster has wiped through a lot of stop losses and weak hands. People who were thinking of selling have sold. Who’s left? Duh … only buyers and 11 million short shares which have to be covered. The day of the announcement will be a 4 million share day, maybe more