Gov't to Decide Gulf LNG Fate

[Tree]

http://issuu.com/aspermont-aust/docs/png...entire_mag

"The development decision will be recommended by strategic partner and PNG will decide and approve the best commercialisation opportunity" - Collin

"There are no differences at Board level" - Collin responding to inquiry of BoD divisions

"The PNG Government is using seperate Elk/Ant estimates made by Gaffney Cline and Associates"  We know that is lower at 6.6 T, still enough for an 8mtpa plant.

And Wayne said this in Platt's article yesterdy: "Now the PNG government is involved in the negotiations, and that should help us move forward and achieve FID [final investment decision]. These negotiations are complex and of such fundamental importance to InterOil and our future, that it is appropriate to conclude these in a methodical and thorough manner, and that is exactly what we are doing," Andrews added.

page 65. is the meat.

page 6 - PNG Expansion plans may include E/A gas.

page 38 - Gulf LNG start this year or early next year heating up real estate market.

Where we are now me thinkie:

Given, Gov't needs both a PNG LNG expansion and a Gulf LNG project for revenues and jobs.  Gov't has agreed to 4T deal to XOM to allow commitment to expansion and keep on site workers on site working.  This may delay signing of SD partner as Elk-3 results may now be needed.  Also, by pulling out 4T's  from GC #s of 6.6T at 'arm's length' price decided by the SD terms, less gas in play today could result in a lower $/Mcf.  Lower $/Mcf good for both XOM and SD choice.

Pressure is heavy on O'Neill from at least 2 SM's as a result.  XOM and likely RDS to make the Gov't decision.  Likely many nice perks offered in Port Moresby nowadays from the SMs to O'Neill.  Can he withstand temptation?  IOC is in control of the commercial transaction, $/Mcf, but Gov't still has overall vice on IOC's nuttz to  sculpt this deal.

Could well be a matter of fate at this time where this deal ends up and a good time for Phil to exit.

BTW, philstar.com reports that the bidding war and beauty contest reports are accurate and the $/Mcf still expected to be multiples of where we are trading.

Can we expect an assertive move between now and May CC by RDS, XOM or TOT?  Seems like a safe bet.

And Wayne said this in Platt's article yesterdy:

"Now the PNG government is involved in the negotiations, and that should help us move forward and achieve FID [final investment decision]. These negotiations are complex and of such fundamental importance to InterOil and our future, that it is appropriate to conclude these in a methodical and thorough manner, and that is exactly what we are doing," Andrews added.

[Palm]

Philstar.com is heating up with info flooding in. Hemi has had to focus his efforts there to keep the server from overloading and crashing. Google will likely come calling before long. Hemi's trying to get bugs planted in O'Neill's office; as you would expect Maui is on that.

If ever patience was required it's now, but with pps reacting as it has been philstar.com is having its affect. Phil is the man

[Tree]

Philstar.com is heating up with info flooding in. Hemi has had to focus his efforts there to keep the server from overloading and crashing. Google will likely come calling before long. Hemi's trying to get bugs planted in O'Neill's office; as you would expect Maui is on that. If ever patience was required it's now, but with pps reacting as it has been philstar.com is having its affect. Phil is the man

Since there are Gov't approved JVOA's for Gulf LNG and 237 presumably each prequalified bidder SM and NOC and Utility consortium  scheme and timelines to dlivery were scrutinized by PNG Gov't.  Makes sense IOC announced the JVOA's.  There way of declaring - our wook is all but done, we just need to get the bids up a leetle more and Gov't in control of final choice.

Many big egos battling in PNG and no one wants to be the beauty pageant first runner up.

[johnwgrant]

Philstar.com is heating up with info flooding in. Hemi has had to focus his efforts there to keep the server from overloading and crashing. Google will likely come calling before long. Hemi's trying to get bugs planted in O'Neill's office; as you would expect Maui is on that. If ever patience was required it's now, but with pps reacting as it has been philstar.com is having its affect. Phil is the man

So, I went to www.philstar.com to check out the news...     But, someone must have hacked your site because it is all about what is going on in the Philippines !!!   Crazy, I know !

Please rush me my secret decoder ring so that I can decipher the hidden messages buried somewhere on this site....     Thx !

[Palm]

Philstar.com is heating up with info flooding in. Hemi has had to focus his efforts there to keep the server from overloading and crashing. Google will likely come calling before long. Hemi's trying to get bugs planted in O'Neill's office; as you would expect Maui is on that. If ever patience was required it's now, but with pps reacting as it has been philstar.com is having its affect. Phil is the man

Since there are Gov't approved JVOA's for Gulf LNG and 237 presumably each prequalified bidder SM and NOC and Utility consortium  scheme and timelines to dlivery were scrutinized by PNG Gov't.  Makes sense IOC announced the JVOA's.  There way of declaring - our wook is all but done, we just need to get the bids up a leetle more and Gov't in control of final choice.

Many big egos battling in PNG and no one wants to be the beauty pageant first runner up.

It's very similar to Shark Tank at this point.  And so far we have not heard those dreaded words from any of the sharks, "I'm out".  IOC has brought one of those rare situations to the sharks; they are all very interested.  And there is always at least one shark circling the pool who has not spoken yet.

[Palm]

Philstar.com is heating up with info flooding in. Hemi has had to focus his efforts there to keep the server from overloading and crashing. Google will likely come calling before long. Hemi's trying to get bugs planted in O'Neill's office; as you would expect Maui is on that. If ever patience was required it's now, but with pps reacting as it has been philstar.com is having its affect. Phil is the man

So, I went to www.philstar.com to check out the news...     But, someone must have hacked your site because it is all about what is going on in the Philippines !!!   Crazy, I know !

Please rush me my secret decoder ring so that I can decipher the hidden messages buried somewhere on this site....     Thx !

We'll have to get Hemi on that; he's probably back down in Mexico at the pre-party.  Can't get good help these days

[Tree]

Philstar.com is heating up with info flooding in. Hemi has had to focus his efforts there to keep the server from overloading and crashing. Google will likely come calling before long. Hemi's trying to get bugs planted in O'Neill's office; as you would expect Maui is on that. If ever patience was required it's now, but with pps reacting as it has been philstar.com is having its affect. Phil is the man

Since there are Gov't approved JVOA's for Gulf LNG and 237 presumably each prequalified bidder SM and NOC and Utility consortium  scheme and timelines to dlivery were scrutinized by PNG Gov't.  Makes sense IOC announced the JVOA's.  There way of declaring - our wook is all but done, we just need to get the bids up a leetle more and Gov't in control of final choice.

Many big egos battling in PNG and no one wants to be the beauty pageant first runner up.

It's very similar to Shark Tank at this point.  And so far we have not heard those dreaded words from any of the sharks, "I'm out".  IOC has brought one of those rare situations to the sharks; they are all very interested.  And there is always at least one shark circling the pool who has not spoken yet.

Great post Bonk!

My favorite Shark Tank moments are when Kevin and Cuban decide to BOTH go into a deal.

[trans]

sounds like another short rumor to me

[Palm]

Actually not. The government is the one who must approve the PA/amended PA. The government is also the one who approves a partner to be added to a license (PPL, PRL or whatever) and they of course approve the PDL. This has gone as we have been hearing, and Phil's "retirement" (I know we shouldn't be concerned with him any more, but he is still CEO through next Tuesday) indicates that IOC feels they have delivered everything asked, including a preferred partner. The "beauties" have just been presented in their swimsuits and have been asked, "What would you do if you are selected to be Miss Gulf LNG?".

[johnwgrant]

Actually not. The government is the one who must approve the PA/amended PA. The government is also the one who approves a partner to be added to a license (PPL, PRL or whatever) and they of course approve the PDL. This has gone as we have been hearing, and Phil's "retirement" (I know we shouldn't be concerned with him any more, but he is still CEO through next Tuesday) indicates that IOC feels they have delivered everything asked, including a preferred partner. The "beauties" have just been presented in their swimsuits and have been asked, "What would you do if you are selected to be Miss Gulf LNG?".

Any chance that we end up going with the "traditional model" - a larger plant built on the InterOil site (Port Moresby) with an long pipeline from Elk/Ant (Just like the PNG LNG layout) ?   How would Kavo take being cut out of the development ?