05-14-2013, 06:43 PM
Stavros- Do you think that IOC wasn't aware that this could happen.??? But a reality check needs to be in order. The bidders would not have spent the time to bid without checking with the PNG govt that their was something to bid on. These are Super Majors that know how to deal with PNG type govt's. Second the IBers have not been paid yet and would not have worked these many months on a deal that was to be swept away at the last moment. Sometimes the answer is right in front if you if you would just look. IOC has an acceptable deal most have been aware of for many months but they want the best deal they can get for shareholders not just a deal.So the process continues. In the end we may just get a deal not a spectacular deal but we will not lose our licenses. Thats where the rubber hits the road. Is there a subtle threat well maybe so but the govt has major baggage in slowing down IOC's progress. Therefore they have an obligation to help IOC get a deal. And thats exactly what they are doing. King and Spaulding advised IOC the govt can't take away the IOC licenses. Thats the differences in our style I asked 3 different members of IOC's mgt about the govt taking IOC's licenses and was told it couldn't be done. So people are spinning their wheels in the sand over non issues. Have at it but its not legally correct or reality. I assume that some think the IOC would lie to shareholders about these things. But is that reality with the IOC stock positions that IOC mgt owns?? Nope can't be true.
