Petromin/Kalinoe are GONE = Kumui Petroleum

[cybersssss]

I do not think we lose any time at all. The deal now is all about IOC choosing the partner. Petromin was more of a hold up then anything.

[jft310]

Cyber- Maybe you are right ! Maybe the hold up was Petromin which is now behind us. I read the word legislation and that means what??

[Palm]

Losing time will not be an issue. The moves to replace Petromin have already taken place. Remember O'Neill's wise move back in November. He gave Petromin until Nov 30 to get negotiating done and report back. When that didn't happen the writing was on the wall. The deal was considered that simple to put together in principle; but Petromin stonewalled yet again. Things will move faster now, not slower. And for Kalinoe the choice is simple, spill your guts as of April 4 with all details and we give you a nice desk job. Otherwise your pecker might end up on the menu as the next soup if the day.

As for Shell, it will be hard for them to do business in PNG. Insert Total? "Think cereal"

As for Petronas as a model; let's look at PTT instead.

Getting rid of these players is like calling in Roto-rooter after Thanksgiving. Ahhhhhhhhhh, things flowing like they should.

[ArtM72]

Here's hoping this kumul is a phoenix with a quick first step.

[ellerslick]

Here's hoping this kumul is a phoenix with a quick first step.

\

If this is such great news why is the stock flat today?

[jft310]

I do not know when. But this speeds things up I was told. The source of the shorts misinformation is gone . There have been no delays as in zero with the IBers, the bidders or IOC because of the misinformation. Things are moving ahead . Another source thinks the Japanese and Koreans are in for offtake these days and PTT will buy into the assets and take offtake. I don't know. The PNG Ambassadore signed the agreement with Japex vs Josh K.

[ellerslick]

I do not know when. But this speeds things up I was told. The source of the shorts misinformation is gone . There have been no delays as in zero with the IBers, the bidders or IOC because of the misinformation. Things are moving ahead . Another source thinks the Japanese and Koreans are in for offtake these days and PTT will buy into the assets and take offtake. I don't know. The PNG Ambassadore signed the agreement with Japex vs Josh K.

Thanks for the reply, I am just truly puzzled at the price action. Down over two bucks on nothing yesterday. No volume in the stock today. I am a follower of Bill O"Neil so volume is important to me. Now down a $1.40, very sad the manipulation on no volume.

[trans]

this is a short attack....nothing more. They're running out of time. IMO, they're always the worst right before the news. fwiw

[Palm]

Interesting Tree that Silobreaker got their hands on this article as it is dated tomorrow, so not seeing much of a media splash or recognition. Tonight this will be out in National, PC and Must-See-TV I would guess. Hopefully we will get some quotes from O'Neill and others. BOD will be dismantled also it appears, and that is significant. Especially since a former long-term Petronas veteran was one of them. Will be interesting to see whether he is on new BOD, but I would guess not. Will be interesting to see the ripple effect of all of this.

[oilmd9]

So why not get the rigs going while we wait -----seems like a lot of time being wasted