03-12-2012, 06:35 AM
PNG has many political issues going on. IOC refuses to pay these guys. Previous approved projects paid. See where Arthur and Michael Somare paid cash for homes in Port Douglas Australia after Exxon's approval. Fact the PNG govt can not sit forever when Japan and Korea want to invest.Wayne states others have also approached the PNG govt with permission to bid.The problem is the price logic states. Phil will accept a proper bid and Richard Chandler and Carlo Civelli will push Phil to accept a reasonable price.The price $2.50 per mcf seems reasonable based on Exxon's received price. The first DST test result should be quite interesting in several ways.