'will2bgreat' pid='68864' datel Wrote:
Hi Will,
I agree if they help the shareholders value anymore, I'll be broke. Arrogance? No they think that we are stupid.
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Wap, Now that gave me a good laugh. And clearly your interpretation is more correct. IOC doesn't know if they are drilling A7 yet, but they got their line of credit extended and increased. But I'm sure that's just good planning, lol. Why do that if you have $170M remaining on the line of credit, you have reject ability over A7, and there is nothing in the Total agreement about additional drilled wells? IOC could have spent much less time and money on telling Total we have completed the appraisal program and are proceeding with the certification. Odds of drilling A7, >99%.
[/quote] Well, extending and increasing a line of credit when seemingly not needed IS sound financial planning, no lol about it. I defer to others on the A7 issue, but I have heard Hession say more than once that he intended to get value for "every molecule." Pouyanne has said more than once that Papua is a "long cycle investment", so it would hardly be surprising if IOC and Total agreed that getting EA right via A7 was in their interests, albeit interest seen from different angles.