'Tree' pid='70563' datel Wrote:
'ArtM72' pid='70561' datel Wrote:
'Stavros' pid='70560' dateline='<a href="tel:1464173 Wrote:PNG Government will NEVER allow their in-country assets to be acquired by a large outside companyI don't understand the comment OSH isn't PNG and in any event the controlling g ownership would remain TOT and XOM
PNG has stated plamns to develop a fully integrated formidable PNG based 'PNG Petronas'. Combining IOC/OSH was inevitable when O'Neill forced funding to buy 10% OSH which enabled OSH to buy PacLNG stake and make a move on all PRL15 by booting TOT via arbitration. New OSH will be 'PNG Petronas' and will have first dibs on all subsequent PNG projects and in essence will control licensing and development planning. Expect less cutting up of PNG with pipelines and facilities and massive integrated projects, like QatarGas, where SM's and off-takers partner in the JV's.
This is why XOM will not enter bidding war for IOC, they already have an inside track to E/A gas and economies by working with Papua LNG JV via OSH/PNG Gov't to be in control of PRL15 and all IOC licenses. Expect an on-sell to XOM or Asian of-takers just like the on-sell to Total. Botten is smart, he has managed to enter PRL 15 buying out PacLNG and now on his way to take over IOC all while not taking debt or dilluting equity.
Our upside is much higher in OSH family.
Sounds like gobledegook to me. XOM has inside track on E/A gas? Did I miss a couple of pressers? The ones dealing with OSH buying out Kumul and Total leaving the country?
No doubt Botten is Hession's superior, but then Botten will be leaving and Hession ends up with $50 million. Just how does this deal help us again?