IOC Research Note - AGM 2012

[Getitrt2]

jake, admin, VS, etc.: With respect to the Mitsui CSP Agreement, it should be noted that in the 3/30/2012 PR citing the formal extension to June 30, it was also stated, "In addition, the parties contemplate additional amendments to further extend the JVOA and associated agreements to allow for FID to December 31, 2012, if such extension proves necessary." They may not even need to make any further announcement about that being done. I feel sure Mitsui is in for that regardless of whether they end up playing a bigger role as part of the JKM consortium being selected as the new sell down partner.

By the way, hopefully all of you saw the Dow Jones/Bloomberg Businessweek article posted today on Yahoo by lotsofng on the interview of a Kogas executive who confirmed being part of the JKM consortium bidding on IOC's Gulf LNG project!