The Attempted Grand Theft of IOC

[Tree]

We've had 2 resource deals and neither were anywhere close to the values brainwashed by Phil.

Irrelevant.

What Pet argues is that the present takeover by OilSearch confers big benefits to OilSearch and Total, at our expense. It's got nothing to do with whatever values, brainwashed or not, Phil has come up with in the past

It's simply argues that the present deal is much worse than the one we had:

Once again to see how this works, Total was to start paying according to the above table at 3.5 TCFe. Now they only start paying at 6.5 TCFe and they only pay US$0.77/MCFe instead of the higher rate shown above. They only have to pay 60% instead of 100% and they get a larger piece of Elk/Antelope to boot. Both Total and OSH end up with a larger percentage of Elk/Antelope and Papua LNG. Most of these gains and benefits to Total and OSH are a loss to IOC shareholders. Total also gets 62% of all licenses outside PRL-15, including the discoveries at Triceratops, Raptor and Bob Cat for nothing. Of course OSH also gets their cut of all other licenses outside of PRL-15 including Triceratops, Raptor and Bob Cat for nothing. This is really grand theft by both Total and OSH with the cooperation of our CEO and BOD.

The Attempted Grand Theft of IOC

Irrelevant.  His argument is irrelevant.   It lacks context of a very high probability of IOC current reality as I laid out.  His argument is based on assuming 10.2 T and that we are getting screwed and in fact, it may just be that it's the absolute best IOC can do in view of realities we will not admit or know about.  When cert #s come in much lower than 10.2 then Hession is vindicated.  The lower the #, the less life IOC has.  IOC would not be able meet exploration obligations to hold leases.  As time would pass our next and final offers would be much lower.

If your take is correct, why would OSH hide the facts by canceling the OSH-IPI certification?  It would only cost them $$$.

WTF AU?  Cancelling??  Hide the facts?  Good Gawd.  That's the problem.  Emotion trumps fact.  This thread and sycophants knobbing the author can't read.  

Let's clear some stuff up.

Page 28 of the latest OSH presentation:

"How does this affect the Pac LNG resource certification? »

Given the unanimous vote by the PRL15 joint venture partners to support the drilling of the Antelope 7 well, OSH and the Pac LNG sellers are considering whether to suspend the ongoing certification process (with NSAI and GCA) in relation to the Pac LNG sale and recommence after completion of the well » T(Meaning Ant 7) this is subject to the approval of OSH and the sellers of the five Pac LNG companies"