02-15-2014, 12:34 AM
'ebster123' pid='37430' datel Wrote:"Duma/PNG cannot and will not allow IPI to hold TOT/IOC deal hostage.". If they want, Civelli and the crew (all be it and I agree stupid) COULD say screw you guys, I'm going home. One should not be one sided, things have not panned out as planned so far so would be careful how I state it!!!
Eb,
With your logic, Civelli can extract $7/M from IOC/TOT or else 'they go home'.
If Civeili and IPI 'go home' their ownership right to licenses simply get expunged. Gov't grants and takes away licenses. IPI cannot screw IOC/TOT/PNG by not playing ball.
IPI ownership of an LNG project stake is not a possibility. Gov't won't allow that, it's too risky. Look at every on island large project and every LNG project worldwide and you will not find private owners as stakeholders. IPI's role was to fund exploration with goal to sell the resource and receive an appropriate return. IPI role was not and cannot include a rollover into an LNG project ownership stake.
IPI can sell out or have their stakes in PRL15 removed.