FWIW, I agree with Tree on all this.
That includes the FACT that IOC did NOT sell any "IPI position" to Total. The interest intended to be sold to Total was completely owned by IOC. The intent was for IOC to then replace part of that interest sold out of its interest by purchasing the Pac LNG and IPI interests. When IOC was outbid by OSH for the Pac LNG/IPI interests, IOC and Total had to modify the agreement to reach the intended final result. The actual factual and legal details of the agreements matter.
Furthermore, in addition to arbitration and JV partner status and gas usage issues, Gator continues to ignore the huge effect on the schedule of the problems with the rig at Ant 4, as if Hession had a much better rig standing by he could have used instead. They also had to give up on that rig and could not use it to satisfy any other drilling needs, but Ant 5 had already been completed in a fraction of the time with a capable rig. All that was after they had to give priority to the three exploration wells over appraisal to meet license requirements, with limited personnel and other resources. I don't think there is any way in hell Mulacek could have accomplished an equivalent PRL 15 deal and all that.
That includes the FACT that IOC did NOT sell any "IPI position" to Total. The interest intended to be sold to Total was completely owned by IOC. The intent was for IOC to then replace part of that interest sold out of its interest by purchasing the Pac LNG and IPI interests. When IOC was outbid by OSH for the Pac LNG/IPI interests, IOC and Total had to modify the agreement to reach the intended final result. The actual factual and legal details of the agreements matter.
Furthermore, in addition to arbitration and JV partner status and gas usage issues, Gator continues to ignore the huge effect on the schedule of the problems with the rig at Ant 4, as if Hession had a much better rig standing by he could have used instead. They also had to give up on that rig and could not use it to satisfy any other drilling needs, but Ant 5 had already been completed in a fraction of the time with a capable rig. All that was after they had to give priority to the three exploration wells over appraisal to meet license requirements, with limited personnel and other resources. I don't think there is any way in hell Mulacek could have accomplished an equivalent PRL 15 deal and all that.