'Stavros' pid='78369' dateline='<a href="tel:1481723 Wrote:Art: To my opinion ZILCH because it was never brought up by the Concerned InterOil Shareholders. Instead, the CIS presentations have stated that Raptor and Bobcat should not have been considered as "Discovery" wells - - - CIS refers to the gas that was encountered as being Non-Commercial. WHY? Because IOC drilled in the WRONG LOCATION! An analogy is the Elk field. Although Elk encountered gas, it is not considered recoverable. Only Antelope will be tapped. Raptor and Bobcat and Wahoo and others may command a price some day, but to eventually quantify their values requires drilling several wells in each - - - IOC ain't got no money, honey. That's why the best deal for IOC Shareholders is to SELL Antelope and RETAIN everything else. Then rinse and repeat with sell downs and capital raises.
Yes but the problem is there ain't no buyers. XOM/OSH have all the leverage by having an existing LNG plant and infrastructure. All other buyers (TOT included) are at a major cost disadvantage for gas fields. PNG would do IOC shareholders a big favor if they blocked XOM, TOT and OSH from buying anymore of IOC. No one will bid because they know it's a losing battle with these 3. That's why TOT didn't counter. But if all these guys are prohibiited from buying the company, THEN we can have a level playing field for all bidders, excluding these 3. THEN we can get real value. XOM intends to remain as the only door for gas to leave PNG. As long as they do, then independent companies that drill and produce gas (i.e., IOC and now TOT) are held hostage. IF there were multiple LNG plants in operation, we wouldn't be in this situation.