Kavo: Gulf Project all set; details fuzzy

[Tree]

Kavo getting ahead of himself again? Sounds like it. Not sure he has details right, but excitement is building

Gulf LNG project all set

Source:

The National, Wednesday 10th April, 2013

 By GYNNIE KERO

GULF LNG project will go ahead as initiated once InterOil announces its joint venture partner for the project at the end of June, Gulf Governor Havila Kavo says.

He said this yesterday during the opening of InterOil’s community office complex and landowner trade store at the Wabo station in Gulf.

Kavo said 50% concession of the Gulf project benefit would go towards the state making it the biggest ever project development in PNG.

“InterOil has been at Wabo (Baimuru district) for more than 11 years and put Wabo on map.

“The world now knows where the Elk/Antelope gas fields are.”

He acknowledged Prime Minister Peter O’Neill and the national executive council (NEC) for the approval of InterOil’s LNG development project.

“As the prime minister has announced two weeks ago, the decision also approves the acquisition by the state of an additional 27.5% equity interest in the Elk/Antelope gas fields, over and above the 22.5% interest to which it is entitled under the Oil and Gas Act, on terms to be negotiated with InterOil”.

With weeks to go before InterOil announces its joint venture part­ner in the Gulf LNG project development, corporate development executive vice-president Christian Vinson told The National that the Gulf LNG project was going on well.

He added that InterOil had to find the right partner to operate the project.

http://www.thenational.com.pg/?q=node/48018

EnneRole on Offense:

Regarding today's National Article implying 50% Gov't atake and June decision: Gov. Kavo is a friend of Guf LNG and Interoil.  Gov. Kavo was in fact interviewed in the article.  Gov. Kavo is in fact un-informed regrding negotiations and final selection outcome and terms. The article is innacurate beyond the fact that Kavo was interviewed. Use don't Flush.

Regarding today's National Article implying 50% Gov't atake and June decision:

Gov. Kavo is a friend of Guf LNG and Interoil.  Gov. Kavo was in fact interviewed in the article.  Gov. Kavo is in fact un-informed regrding negotiations and final selection outcome and terms.

The article is innacurate beyond the fact that Kavo was interviewed.

Use don't Flush.

[Palm]

Philstar.com is on top of things again. Use Philstar.com info, Flush poorly written half-baked National articles; they are easy to spot and quickly dispelled as flushable material.

[Markr]

Misprint. Kavo said April not June.

  Tree, where do you get that Kavo said April not June?  Please no lecture on timing, but end of June is problematic to some.

[ltinvest]

I would stick to what's been stated so far by the company as this statement and source are not reliable whatsoever. I would disregard entirely.

[Palm]

Wise statement LT. The timetable comments in this article don't even fit and appear to have been injected by the final writer (maybe AG helped write it). The response from management is what Tree reported; Kavo was interviewed, but he has no information as to timelines at this point. The only thing that's June related is the 2009 PA expiration for reaching FID. Christian V would not be even be stating that there are "weeks to go" in relation to an announcement. Appears someone took some editing liberties to add these dates to take the luster off of the headline, "Gulf Project All Set". Why such a headline if an announcement is still 2 1/2 months away? Makes no sense. And again, O'Neill did not make a statement 2 weeks ago about the possible 27.5% State option. 2 weeks ago he was in Japan meeting with their PM and signing the JAPEX/Petromin agreement.