REPORT: Hession Changed The Deal on XOM

[Getitrt2]

Kaliboo, I basically agree with the article, but disagree with much of your interpretation and conclusions. With respect to an E/A deal, they do need to "get it right" as opposed to being in too much of a "rush", but that nevertheless IS the top priority, as stated by the CEO, as opposed to Tri or any other exploration or discoveries, as important as those are. Monetizing E/A is the "quickest path to adding value" now, not adding more discoveries. Furthermore, IOC needs a cash infusion to really accelerate exploration and development, and monetization of current resources is the key to that. Hession knows getting back on track with appraisal and exploration is also very important, thus Wahoo. Further exploration success on top of monetization is what will really build value.

The government also needs monetization and regards that as top priority. Happily, I think they and IOC are in sync at this point, but I doubt patience is unlimited.