'Palm' pid='75101' datel Wrote:It's no different than someone who owns a valuable piece of development land without the capital or knowledge of how to develop it. You won't get developed, cash flow positive prices for the land.
Palm - you are projecting IOC's inadequacies on Total, apparently to support a position that can't otherwise be justified.
There was a reason why PNG insisted a super major become the Operator of E/A . PNG wanted someone with expertise and experience to develope E/A. While then and now I believe modular development was the right project the benefit of PNG's demand is apparent today. Total has the expertise; IOC needs none in PRL15. Capital can come from many sources and an IOC under effective and honest management has sufficient strength to regrow.
IOC's value in my mind is rooted in the promise of the resources in its licenses and the science underlying its databases.. You can cut a tree off at its base but the tree is not dead. New, viable shoots will spring forth from the stump and the tree will continue to live.