Thinking About the IPI Buy In

[Tree]

IPI are basically a strategic partner with IOC and now TOT. Their interest will be purchased as they cannot/should not remain as continued funders of development and an LNG project. They have been negotiated with by IOC and their collective interest could be re-sold as the 19.3% interest which TOT plans to peddle to a strategic partner for development. Some are of opinion that the base line deal between IOC/TOT for IPI stake is shrewd and some IPI partners feel they can market that block to a qualified strategic at a higher price, thus, they keep the spread. Not likely in my mind and only sounds problematic. Hession said the IPI buy-out was 'neutral' and by marketing their stake as the strategic stake makes sense and funds that liability.