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qek-Great comments and I will add IOC mgt told me several times they need to get through this first deal first, close and sign it and then they can talk about IOC's plans to monetize what's left whatever that may be. I think thats EWC unless someone like a Total buys them out of an EWC plan.
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This looks and sounds great. The early monetization is amaxzing.
What I do not understand then, is that if this is public knowledge adn big funds may know this, then why is the pps so lackluster at this point. If Wayne Andrews were doing his job shopping this company around to investors, then I do not see why someone would not want to buy IOC at this deep discount.
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I know the one thing EVERYONE here agrees upon is that IOC needs to make a deal and that deal will enhance the value of IOC's other assets. But beyond all of the wonderful sounding bullet points listed above Exxon pays $1.10/mcf for gas off the top and gets its percentage of condensates as well? And only pays for its portion of the pipeline and CSP with all the existing wells and infrastructure thrown in by IOC as a sweetener?
What am I missing or is this some very elegantly worded joke? If true, that is one hell of a deal for Exxon.
Also, an important point to understand which seems to be missing from above, when LT is saying IOC is he saying IOC's partnership team which includes the government and Pac LNG or just IOC? If the former, IOC's take is significantly reduced, if the latter IOC's remaining interest in E/A becomes, as the attorneys say, de minimis. And what a deal for PNG! They get to buy up to 50% of the resource for the now established low low sale price of $1.10/mcf.
Paraphrasing LT above, let me clarify the transaction. This would not be selling gas to Exxon, rather it would be buying a friend. Partnership my eye. It's more like giving someone your house so you can spend a night in their bedroom. To paraphrase another coined expression around here, 'use us, then flush'.
Somebody, please, tell me where I'm wrong.
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ART-This post is a WAG , may we wait for the PUBLIC details before judging.
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Fwiw one of my sources said to me when I asked him if this was a good deal for IOC he said no, " It's a great deal for IOC " unfortunately no details, just passing on what was told to me.
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"ART-This post is a WAG , may we wait for the PUBLIC details before judging."
JFT....are you referring to your post or mine?
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My understanding is the CSP will be located at E/A. Petro, I've asked a lot of questions on reserves booking. This isnt the gospel but I believe the infrastructure fulfills the economic viability conditons to allow all resources at PRL 15 to be booked as reserves.
"Fwiw one of my sources said to me when I asked him if this was a good deal for IOC he said no, " It's a great deal for IOC " unfortunately no details, just passing on what was told to me. "
-I've been told the same
