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I do not understand all the nuances that have been analyzed in this thread, but I do think this Exxon deal is "the deal" that has been discussed for so long. It may not turn out to be exactly like "the deal" has been billed over these many months, but it is "the deal." If it were not "the deal," I don't think it would be described the way it was in "selling a portion of PRL 15." There may soon be other types of deals, but this IS the one we have been waiting for. I hope final details are disclosed in the very near future.
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I certainly agree with that
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Petro-The lack of details revealed gave the shorts a short window. Things should move quickly from here. Never forget how many shares the insiders own and their desires are 100% aligned with ours.
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05-25-2013, 09:36 PM
(This post was last modified: 05-25-2013, 09:45 PM by Tree.)
The way to look at this XOM deal is in reverse. We always thought IOC/partners would get the gas to the coast for Gulf LNG and sell XOM excess feedstock as Gulf LNG ramped up. XOM's deal ensures that XOM will get the gas to the coast and Gulf LNG will benefit from the extra gas capacity. I would expect that XOM will take a stake in wells, collection pipelines, CSP and dry gas to coast. It appears IOC retains the condensates. Remember Phil's $5-$7 Mcf comment at the time EWC/Mitsui/Flex/SHI Gulf LNG had Gov't approval and IOC/Partners owned the CSP? That was not a dry gas sales price.
XOM's deal with IOC in PRL15 will ensure that the E/A field is developed and that the dry gas they require for expansion will reach the 'T' on schedule, without doubt. This also means, without doubt, that an onshore 'T' will be placed in the dry gas pipeline for feeding Gulf LNG. This XOM gas feed commitment and upstream involvement in PRL15 de-risks and finances the delivery of dry gas to Gulf LNG. A JKM/Pertamina/IOC Gulf LNG plant (or other scheme) could count on XOM/IOC upstream work to feed a plant for 30 yrs. To quote a friend "this (XOM) deal is not ok, this is a great deal"
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I think they will build a new pipeline from Gulf to Port Moresby . That would cost $1 Billion which Exxon would pay most of. To much NG not to have another pipe. Remember Exxon long term wants 5 trains at their plant. With Exxon paying for the drilling they must expect a lot of new NG to be found in PRL 15. Three more prospects in that PRL to drill plus at least two more wells at E/A. PET can help but I think those propects are Duckbill ,stegasaurs,aleosaurs,???
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jft -- Good AM . In your above post, you mentioned Duckbill . Lets suppose for a moment that we soon have a new E/A called R/D ! ( Raptor/Duckbill ) . If XOM does get a percentage of prl 15, and future seismics shows R/D to encompass both ppl 237 & prl 15 ,then we would have an IOC , XOM ,and PRE situation.......kinda like the IOC and Oil search deal in ppl 237 & 338 , wouldn't we ?? Interesting times are ahead don't you think ? GLTY.
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'petrengr1' pid='23043' datel Wrote:Tree- OK. Thanks for your help.
Pet- I too thank Tree for his response . On the Raymond James Report thread, I mentioned the possibility of another E/A to be called R/D, (for Raptor/Duckbill) . I suggested that if we got an IOC & XOM combo in prl 15, then if R/D included both ppl 237 & prl 15 we could wind up with a IOC,XOM and PRE situation similar to the OSH and IOC deal like the seismics project in ppl 237 and ppl 338 . WE might wind up with a second good combination !? Have a fine weekend .
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'jft310' pid='23066' datel Wrote:I think they will build a new pipeline from Gulf to Port Moresby . That would cost $1 Billion which Exxon would pay most of. To much NG not to have another pipe. Remember Exxon long term wants 5 trains at their plant. With Exxon paying for the drilling they must expect a lot of new NG to be found in PRL 15. Three more prospects in that PRL to drill plus at least two more wells at E/A. PET can help but I think those propects are Duckbill ,stegasaurs,aleosaurs,???
No the reptiles are further west in PPL 237.
The prospects, other than Elk/Antelope, that are 100% in PRL 15, are Big Horn, Grizzly and Deer. Those prospects that are in both PRL 15 and PPL 237 are Raptor/Duckbill, Mule Deer, White Tail and Mountain Lion. http://www.interoil.com/iocfiles/documen...inal-1.pdf page 21
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["The prospects, other than Elk/Antelope, that are 100% in PRL 15, are Big Horn, Grizzly and Deer. Those prospects that are in both PRL 15 and PPL 237 are Raptor/Duckbill, Mule Deer, White Tail and Mountain Lion. http://www.interoil.com/iocfiles/documen...inal-1.pdf page 21"]
Thanks Pet. That should be enough... for starters 
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Thanks PET ,I knew you had this nailed.
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