OSH/PacLNG Deal Details Reported

[jft310]

Just a quick calculation, but based upon what Oil Search is paying PacLNG , my calculation is 3.1 billion based on 900 million for 23% of E/A. 3.1 billion is IOC's portion of E/A prior to sell down. This does not include upside from additional gas found over 7 TCF.

Cyber- the $900 million that OSH remains the same agreed? So OSH is buying net to them 17.7 percent after the govt buy in or

$900 million divided by 17.7 percent is $5 Billion for all of E/A. IOC ends up with Billions plus a 30 percent ownership