12-11-2013, 07:29 AM
One confounding element of the IPI agreement is there rights/obligations to drill prospects in other areas and share in the proceeds. If you read the IPI agreement there is no way for IOC to buy them...or sell them...out cleanly if they chose to hold their interests. The "penalty" payment potential for IOC as I recall makes Total's E/A payment look like chump change.
As I see it this situation is pretty much a classic "Mexican Standoff". Everybody needs to drop their guns and decide to get along. Hession pretty clearly indicated that would be done. If IPI interests get greedy the clear losers will be both IOC and IPI.
As I see it this situation is pretty much a classic "Mexican Standoff". Everybody needs to drop their guns and decide to get along. Hession pretty clearly indicated that would be done. If IPI interests get greedy the clear losers will be both IOC and IPI.