08-23-2013, 09:58 PM
And finally, the author has changed his perspective on which train InterOil's gas will underpin (previously wrote that Elk/Antelope would underpin train 4)... "If ExxonMobil is successful, it looks more likely that Elk-Antelope will underpin the third train at PNG LNG following revelations by project co-owner Oil Search that resources such as P’nyang and Juha North and the Hides expansion are still two years away from being ready for a final investment decision." This implies earlier back end cash flows to InterOil from the SPA and highlights Exxon's lack of PNG LNG expansion options beyond PRL 15.