'Gator' pid='65146' datel Wrote:Tree, Which came first IOC's sell to TOT or IPI's sell to OSH? IOC sold their (and the IPI) stake to Total. The IPI investors said not so fast. We want to sell to OSH. OSH said, we want our 22% of the gas to go to Train 3 of PNG LNG. InterOil then transferred ownership of E/A into a separate whole owned subsidiary and sold it to Total. OSH filed suit because the dispute in the JVOA. To continue to blame the delay of certification solely on arbitration and OSH (Botten and Civelli) is wrong. Hession did not lock down the IPI stake before he sold. Furthermore, after arbitration was settled, InterOil still claimed certification payment by YE 2015. The very first time a delay was mentioned was June 2015 at the ASM because the test results were so good they estimated the field was much bigger and they wanted to be paid for every molecule of gas. Since then we have had two additional delays and neither have to do with arbitration.
Here's the timeline Gator. Lawyer and Gov't approved all throughout. As of Dec. 5, 2013, TOT has been IOC's 'daddy' in all things PRL15, like it or not. IOC was no longer sovereign as there was a JVOA in place as of 3/28/14, the same day OSH filed the dispite. Your initial post in this thread was devoid of truth in context of the 15.5 months following Dec. 5, 2013.
I've laid out a non-exhaustive clarity of timelines, understanding of definition of preemptive rights and the realities faced by IOC/TOT throughout the arbitration process which ended 10 mos. ago. If it fails to sink in, then oh well. Keep on ragging at Hession because 'you are a frustrated long' and surely the only one out here. SHU was conceived to keep IOC story factual and intellectually honest. SHU has become a whinerfest and feelings sounding board as many who have kept things accurate here with facts (without the additional incorrect editorial coment) have tired and become bored with that task and have stopped posting.
*December 5, 2013
InterOil Selects Total SA for PNG Gas Development
*December 6, 2013
| *27 Feb 2014 OSH announcement |
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*February 27, 2014
InterOil Welcomes Oil Search as Partner In Major Gas Field
| *13 Mar 2014 OSH announcement |
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*March 26, 2014
InterOil Acquires Minority Interests in PRL15 (Not Pac Lng, 1.0536% from minor partners)
*March 26, 2014
InterOil and Total Close Elk-Antelope Transaction
| *28 Mar 2014 OSH announcement |
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*March 28, 2014
Elk-Antelope Joint Venture Operating Agreement
*February 10, 2015
Arbitration claims dismissed – Total declared a party to PRL 15 JVOA