11-20-2013, 02:17 AM
Wow, great find Gator and thanks for that. So Wednesday, Thursday, Friday and yesterday he reels in an additional 1 million+ new shares. Now why would he be doing this? Maybe based on Hession's comments last week; one of which was, "What gives me more confidence about this, I talk about independent verification a lot, I talk about delivery a lot. What we see is independent verification from the GCAs -- sorry, from the Gaffney Clines of the world to the GLJs, independent verification of a team that I've brought in -- and independent verification, I think, comes from the fact that these assets have been sought by a number of the highest-quality oil and gas companies on the planet, the mega majors. They covet these assets..." "Covet"; that's a pretty strong word.
"So where are we today? Well, we have offers. We have offers from a number of mega majors, and that believes -- that leads me to believe that we can do this deal by the end of the year. That's the first time that I've gone out and said, and given a timeline as to when we'll do this deal.
The reason I haven't done that before is we were trying to understand the deal. Had to bring in the team to understand the deal. What gives me confidence is the team that I work with have done these things before, and myself and the team believe that we can do this deal by the end of the year.
Where we are at the moment is, we are in parallel negotiations with a number of mega majors. These parallel negotiations are reaching conclusion. I'd say that we're in the home straight. They are ongoing at the moment. They're ongoing at the moment in Singapore, and I'm very confident that the finish line is in sight. We are close.
Now, a major part of this whole process is bringing and working with the Papua New Guinean government. They are integral to the success. We have a degree of responsibility to Papua New Guinea, and that's been part of the process. And I myself, I spend in excess of 50% of my time in Papua New Guinea, working with the stakeholders, taking them through where we are and making sure that those stakeholders are really comfortable with what we're doing.
So for instance, I've spent time with Prime Minister O'Neill, the Minister of Energy Mr. Duma, Governor Kavo, Minister Micah and several other very important stakeholders in the country. We're part of a team here, and you should probably gather the team ethic is quite important to me, and we're part of a team with PNG. So the Papua New Guinean government know where we are. They know how close we are, and they've been extremely supportive. Extremely supportive. I've been very, very pleased about the degree of support I've got from all levels, and that's from the political levels right through to the bureaucracy to the local community sitting within Governor Carvo's [ph] domain.
So I'll reiterate once more that the finish line is in sight.
I've used the quote before internally, "Every day is a possible finish date." That's what happens when you're in parallel negotiations with mega majors who do cover these assets, and there is a degree of competition. Now what I've done is with the mega majors in question, I've respected confidentiality, I've got no intention of going out and have no intention of going out and negotiating this in the public domain. I think that works best, and adds more value for everyone around the table, and it helps us get it to the right outcome. So we're close, very close, indeed."
Chandler and many others really like these words and know what they mean.
"So where are we today? Well, we have offers. We have offers from a number of mega majors, and that believes -- that leads me to believe that we can do this deal by the end of the year. That's the first time that I've gone out and said, and given a timeline as to when we'll do this deal.
The reason I haven't done that before is we were trying to understand the deal. Had to bring in the team to understand the deal. What gives me confidence is the team that I work with have done these things before, and myself and the team believe that we can do this deal by the end of the year.
Where we are at the moment is, we are in parallel negotiations with a number of mega majors. These parallel negotiations are reaching conclusion. I'd say that we're in the home straight. They are ongoing at the moment. They're ongoing at the moment in Singapore, and I'm very confident that the finish line is in sight. We are close.
Now, a major part of this whole process is bringing and working with the Papua New Guinean government. They are integral to the success. We have a degree of responsibility to Papua New Guinea, and that's been part of the process. And I myself, I spend in excess of 50% of my time in Papua New Guinea, working with the stakeholders, taking them through where we are and making sure that those stakeholders are really comfortable with what we're doing.
So for instance, I've spent time with Prime Minister O'Neill, the Minister of Energy Mr. Duma, Governor Kavo, Minister Micah and several other very important stakeholders in the country. We're part of a team here, and you should probably gather the team ethic is quite important to me, and we're part of a team with PNG. So the Papua New Guinean government know where we are. They know how close we are, and they've been extremely supportive. Extremely supportive. I've been very, very pleased about the degree of support I've got from all levels, and that's from the political levels right through to the bureaucracy to the local community sitting within Governor Carvo's [ph] domain.
So I'll reiterate once more that the finish line is in sight.
I've used the quote before internally, "Every day is a possible finish date." That's what happens when you're in parallel negotiations with mega majors who do cover these assets, and there is a degree of competition. Now what I've done is with the mega majors in question, I've respected confidentiality, I've got no intention of going out and have no intention of going out and negotiating this in the public domain. I think that works best, and adds more value for everyone around the table, and it helps us get it to the right outcome. So we're close, very close, indeed."
Chandler and many others really like these words and know what they mean.