02-28-2014, 03:58 AM
The Total deal requires IOC to deliver a 61.3% interest in E/A and IOC would acquire PacLNG interests prior to doing so. Anybody's guess what the next step is, but if I were Total I'd still be looking for my full 61.3, especially now with the OSH buy in guaranteeing government approval.
The OSH deal is not viewed as positive for those who believed a major consideration in the Total/IOC deal was a 30% ownership in the Gulf LNG project. Most of that (enormous) future cash flow now goes to OSH unless of course Total agrees to reducing it buyout percentage. We'll see.
The OSH deal is not viewed as positive for those who believed a major consideration in the Total/IOC deal was a 30% ownership in the Gulf LNG project. Most of that (enormous) future cash flow now goes to OSH unless of course Total agrees to reducing it buyout percentage. We'll see.