Another Try at the Legal Catalyst

[Palm]

Can some one please explain to me about how OSH paid a premium for their slice of PRL15 gas. A premium with regard to what price, by who?

Easy Syd; here's a couple of instances; even one from Botten himself:

1. "Question: Dale Koenders - Citigroup - Analyst : Hi, Peter. Just following on from prior questions, on my calcs if it is a 7 tcf resource, you've paid sort of 15% above what the Total deal would have implied. Just wondering, you spoke about the pre-emptive rights and the value of those pre-emptive rights. Is that the key reason why you sort of paid a little bit over? Total obviously had flagged they were looking to sell-down a 19% interest. And then with the pre-emptive rights are you actually looking to buy a larger interest in the project?"

2. "Analysts said Oil Search was paying a "ritzy" premium compared to what Total agreed to pay.

"You've obviously paid a premium to ensure you get access to this resource," Scott Ashton, an analyst at broker BBY, told Botten on a conference call.

Botten said that was based on the company's desire to get a seat at the table to decide how the resource would be developed and based on its bullish view on the potential reserves yet to be confirmed in the area around the fields."