OSH/PacLNG Deal Details Reported

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Tree If OSH ended up with PAC LNG's share does that mean that IOC only has 7% of E/A?

No.  This OSH % is a gross % as was PAC LNG/IPI, prior to Gov't opt in.  Gov't 22.5% stake will come from the 3 now existing partners, TOT, IOC and OSH.

The way to view this is owership after Gov't buy in.  Stated material stakes should be:

TOT    32.5%

IOC     30%

Gov't   22.5%

This leaves 15% for net for  OSH, or their may be more sell-downs by OSH, IOC or TOT.