UBS

[mikesioc]

I think it is worth noting that UBS was selected by PNG to negotiate the refinancing of their IPIC loan and UBS has not been released from its IOC activities.  The dominos should be falling soon.

[jdeo1969]

Are you reading anything specific into that mike?

[mikesioc]

Total, IOC, Woodside, Oil Search, PNG all coming together at the same time with UBS acting on behalf of PNG and IOC. I believe this is no coincidence and that it will all prove to be connected somehow with the IPI buyout and a restructure of the Total deal. I think this is the cause of the delayed IPI announcement.

[jdeo1969]

Thanks for your clarification sir.