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Stavros the banks are loaning Billions thus they require experts to verify the asset size and quality . It doesn't matter what any of us think it's a matter of what the chosen 2 final Certifiers think . Using the Oil Search chosen 2 ,GCA Certifiers should be the low estimators and NSAI the higher . Is there any relationship between the gas testing and the certification???Or exactly what does GCA need to certify X more assets?????What Hession and his crew and what Total and their crew or even Botten and his crew means nothing . What matters is these 2 chosen certification experts and their opinion . At least these 2 for Oil Search . Can't see any reason for Botten to be in a hurry to pay more why not include Ant 7 if they vote that way . Why not share the costs to certify between all partners . ???
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JFT, I don't know what the banks will require in order to finance the plant. But the certification of resource as defined contractually between IOC and Total is for fixing the payment from Total to IOC. Apparently there is nothing to prevent IOC and Total from coming to an agreement on the resource size and payment prior to the contractually determined certification. Perhaps such an agreement could be tied to Total farming in to Raptor or elsewhere.
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The banks want independent Certifiers and the SPA names the group of 5 to chose between . Each IOC and Total must pick one . The payment is based on the average of the two . The government is on record they want 3 Super Major's working on the island . Hession has a nice bonus if he signs an LNG contract with a non Total . Thus odds are we get a new Super Major at TBR with Total like terms . Of course money speaks and Total could pony up . If the BOD has a genuine fear of a cheap buyout offer than a deal with a second Super Major makes a takeover harder. Why because more people have to agree to a term sheet . To be determined .
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We now have confirmed evidence of dolomite to the east. Does that mean all the dolomite is connected.????Can seismic data show a continuous dolomite section from one well to another . ???
This was one ancient sea bed with many years of accumulation of deposits . Does that knowledge impact a single dolomite section between different wells ???
So much for just being a water well and a waste of time some argued.
