07-20-2016, 08:34 PM
'cybersssss' pid='74352' datel Wrote:i would say that of total did not at least try to buy out the value of their contract it would be fiscally irresponsible of them. It is not IF they will, it is how could they NOT bid?
TOT's move here will be dictated on the interest they've received in their pre marketing efforts of Papua LNG's LNG and TOT's internal E/A resource #s.
If the sales interest is weak, TOT may just cut bait, sell their E/A stake to XOM. This eliminates bid war to lose, eliminates future payments due to XOM and saves face by selling to XOM at break even.
If sales interest is strong and E/A #s are high TOT will bid and will win.