Carlo Civelli represents somehow all the minority interest . Most likely because he drives hard bargains. It's reported several
months ago he was shopping his controlled block of IOC to potential buyers . Asian and London based potential buyers. I share
this because Interoil would have to approve of the buyout of these interests the way I read the IPI agreement. If OSH is the
buyer they would have to pay a premium is my take. I also feel OSH has been trying to slow down monetization for years but
today it's in their financial interest to get gas for train 3. With the financial parameters of train 3 the buyers of IOC 's gas can
afford to pay a premium. Remember the current deal with Total is for PRL 15 only . A minority buyout would include interest
outside PRL 15 and one of those interest might provide gas for Exxon/OSH expansion.
With OSH owning all or part of the minority interest they would vote part of their share of the IOC gas to Exxon and the PNGLNG
Project would then have two votes with over 60 percent control wanting to use the IOC gas . This sale to them does not impact
the seperate Total/IOC LNG plant build or sell down .
This fits with the roadshow comments that a module of gas mentioned as 2.5 T's could be sold to Exxon. Not to say Wahoo
would not work also. Appears Wahoo gets spudded first so first new gas might go to the PNGLNG project.
FWIW wahoo seismics are reported to be better than E/A before it was drilled and the sandstones can be reached from
this location it's also been stated they hope. Exciting times for those that get the big picture.