PNG wants Total to develop "disputed" gas field

[Poman]

IP/OSH is a party to the JVOA for PRL 15 as is Total now that the sell down occurred. Total purchased its interest from IOC, so it has nothing to do with OSH as far as the agreements/payments to IOC. One thing per the SPA between IOC and Total states is that it would be attempted to have other PRL 15 interest owners agree to have Total appointed as the operator. I doubt that has happened yet as a theory is that should OSH prevail in the Dispute, they would want to somehow bring in XOM as an interest holder and hope to have them named as Operator. Duban seems to be saying "Niet".

Thanks Palm;

I understand the operator angle. I'm thinking Botten's ultimate goal here is not "pre-empting" the operator but is really just negotiating a better deal with Total. He probably feels like OSH has more leverage due to it's standing in PNG and relationship with Exxon, thus can get a better deal than IOC got with Total. Doesn't really hurt IOC either way and may ultimately benefit us shareholders.