O'Neill Official PR on Gulf LNG 50/50 Approval

[Putncalls]

Do you mean that future negotiations for a bigger piece of E/A is official? Who cares?

[ArtM72]

I still like the idea of PNG sending "its" gas to Exxon. Buy it from IOC at $3.75 and sell it to Exxon at $6, all for the cost of a pipeline spur. Everybody very happy.

It does seem pretty weird that a period of less than 12 hours is "way down the road" (especially in PNG). Note the source and consider the statement accordingly.

[jft310]

Bottom line IOC has more assets then the GLG and GCA reports. Not sure see the Dolomote shows from A-3 almost 500 higher then some thought but exactly where IOC thought they were and exactly where Henry A thought they were. Further Henry thinks there are liquids in the sandstones at E-3 .My point as stated earlier and couldn't name sources that IOC will have two LNG plants.This is not a bad thing but a good thing.
IOC will collect money from a PNG govt deal and with a sell down partner. There will be plenty of time and money to explore whats at the bottom of Elk!! Now who knows what OSH found in those sandstones in the Highlands?????Will those same sandstones yield the same thing here at Elk that OSH found??? Thats the question that needs an answer.
Two LNG plants is BULLISH. Cash flow baby!!! The govt couldn't use 50% of IOC finds for electricity needs in the next 20 years. So there is a plan that needs to unveiled here.I wish I knew that plan but I don't.But its positive and bullish. If IOC even sells all of E/A which will not happen but is a worst case story then what will IOC do with all that money??? Could they drill, drill, drill and do it again?? Sell down that find. !! Can you see a pattern here? The sell down price has to be in the $2-3 area becuase thats the Exxon price received with their wildly high cost structure and its also the PRE price. PRE paid $2.85 and that deals been finalized. Since that deal is on the books is that not the commercial price?? Hard to argue thats not the commercial price since IOC has a deal finalyzed at that price. Could IOC strike a deal at a lower price well of course.Does that sound like Phil M??...This greedy CEO who only wants to do whats important for IOC shareholders!!Him being one of the largest sharedolders.

[ArtM72]

If there is a pattern to be found here it is an unfortunate one of government strong-arming IOC. Things appear better now than 48 hours ago but Phil's characterization of the 50/50 and that coming from news reports is only consistent with the pattern of the government dictation through active modification the terms of IOC's leases. How the government will act with respect to Triceratops and the Fish Fields has yet to be seen, but it has to be a matter of concern to us shareholders.

[jft310]

A perpetual income stream from the LNG projects bothers you?? In kind means NG as its used . So 4 mtpa for 20 years at $3.80 bothers you?? I disagree.IOC gets paid up front some amount and then gets paid on production. Quantity and prices to be announced . That sounds like an IOC dividend plan to me.