'Palm' pid='32051' datel Wrote:If people have not read the MS report from last week in its entirety, you really should. Some questions being asked since are addressed in full or at least in part there. Someone eluded to something in the disclosures of the MS report (I believe it was Sageo) which was of interest and I believe he was referring to this:
"In the next 3 months, Morgan Stanley expects to receive or intends to seek compensation for investment banking services from Anadarko Petroleum Corp, Apache Corp., Cobalt International Energy Inc, ConocoPhillips, Devon Energy Corp, EOG Resources Inc, Hess Corporation, InterOil Corporation, Marathon Oil Corporation, Noble Energy Inc., Occidental Petroleum."
Also I noted this in the MD&A from the 3rd qtr; that during the qtr:
"$11.0 (ie $11 million)- Costs accrued in relation to the fees payable to our financial advisor in relation to the monetization of the Elk and Antelope fields."
No doubt $11 million was an accrual for Q3 and the "financial advisor" will reap far more from the final deal(s), but these are a couple of interesting disclosures; different from what we've seen in the past.
I thought Sageo might be referring to Exhibit 10 of the MS report where it says they expect IOC to receive the following cash payments:
1. At signing of the deal 15%....$500.58 million... Assumed signing date 12-31-2013
2. At FID date 15%....$500.58 million... Assumed FID date 12-31-2014
3. At first gas 30%...$1,001.16 million... Assumed first gas date 12-31-2015
4. Amount due at first gas + 2 years...40%....$1,334.88 million.. Assumed date of first gas +2 years 12-31-2017
Total received by the end of 2017 assumed to be about $3.3372 Billion.