Agree lt, negotiating is an art and as we said more than once the last couple of days the real deadline all along has been by the end of the 1st qtr. There was "hope" of getting it done by the end of Jan, but the real timetable is set around getting the deals closed in time that the gov is happy and will extend licenses and add Total to PRL 15 as necessary. Hession has stated that he spends more than 50% of his time in PNG and working with stakeholders. They know what is required and are working toward that end. Not something we think should be done with our very limited knowledge.
Per the presentation from Dec 6th, slide 7:
"- Completion of the transaction expected 1Q14
with minimal conditionality
− PNG Government approval
− Acquisition of Pacific LNG minority interests in
PRL15"
Pavel then decided in the CC to ask when they thought the IPI would be settled. Hession should have said, "Read the freaking presentation Pavel. It says, end of 1Q14. We have made progress and we hope that is done by the end of January BUT 1Q14." Mistake? Sure, but did that really change the 1Q14 date on the presentation? No. In some people's minds maybe, but not in reality.
Per the presentation from Dec 6th, slide 7:
"- Completion of the transaction expected 1Q14
with minimal conditionality
− PNG Government approval
− Acquisition of Pacific LNG minority interests in
PRL15"
Pavel then decided in the CC to ask when they thought the IPI would be settled. Hession should have said, "Read the freaking presentation Pavel. It says, end of 1Q14. We have made progress and we hope that is done by the end of January BUT 1Q14." Mistake? Sure, but did that really change the 1Q14 date on the presentation? No. In some people's minds maybe, but not in reality.