Remember this article from last year?

[Getitrt2]

Why would IOC want 15% in two trains at PNG LNG plus cash, rather than 25-30% in two trains at a Total project with PRL 15 plus MORE cash AND further expansion opportunity AND the likelihood of gas to sell to PNG LNG from elsewhere per Hession? Total has already beaten Exxon's best offer on PRL 15, and I doubt that is going to change. I agree on doing both; it's a matter of how, which probably won't be certain before further drilling at PRL 15 and elsewhere. In the meantime, CLOSE THE SPA WITH TOTAL. Not to say I couldn't be wrong.

By the way, Justin, with respect to who's "steering the ship", I feel absolutely certain it is NOT Mulacek. Try Hession, in coordination with O'Neill.