'Getitrt2' pid='46642' datel Wrote:
'calvin grad' pid='46635' datel Wrote:Most of us here have faith in the resource. Assuming that one of the three wells is successful how does the sale of the refinery look then? If it is Wahoo that is successful, I believe they can negotiate better for a sale to OSH
with an adequate cash reserve. If they find liquids will they not need some working capital to develop and bring to market. Positive results at any locaton means they will need to do more drilling..
I do not own this stock because they have or had a refinery in Papua New Guinea. I believe there are more resources to be discovered.and that is why I have invested more than a prudent percentage of my portfolio in IOC. The refinery
was not my hedge but rather it is what has already been proven at EA and the deal with Total.
I hate waiting and not knowing.. I can live with it if I believe that the big boys dont know either.
I feel sure that IOC is not seeking to sell anything to OSH.
It takes much less capital to bring liquids (oil) to market than natural gas.
There are several possibilties if they find gas at Wahoo. It is well past 30 miles from EA. They could let Total and Osh buy in and then sell the gas to Osh or create a separate facility. Or IOC and PRE could have a separate production facility. The simple and probably economic thing is to sell the gas to OSH for their existing plant.. Would rather they dont need to make that decision when they are pressed for cash