Are there any clues from Oneill?

[jdeo1969]

Another interesting point is the one who makes the train possible, the one who provides the gas gets a nice slice of the LNG pie ownership. And they get paid for their gas. In the PNGLNG project OSH received 29%, In the Total deal per Hession IOC was slated to receive 30% of the LNG ownership. IOC now has partners that's true. To think they would get 30 percent can not be reality. But a meaningful percent would make sense. That exact percentage may be what these soon to come talks will be all about.

Very good point JFT.

[jdeo1969]

Add Botten's comments regarding the size of the resource, which by his words, they have been interested in for a very long time.

""OIL Search Ltd is confident in its investment in the Elk and Antelope gas fields after buying its 23% share at US$900 million (K2 billion) last month.
Managing director Peter Botten said on Saturday that the company had been interested in the gas fields (PRL 15) in Gulf for some time.
“We’ve been looking at it (Elk-Antelope development) for a long time,” he said.
“It is probably one of the single largest reserves of gas. For that reason we bought (shares) into in February and we are very happy with our share (23%).”
When asked if Oil Search was locked out of PRL 15, Botten said the company was a joint venture participant in Petroleum Retention Licence (PRL) 15.
“We note that InterOil was selling some interest to Total (French company) last December. Total is very competent in developing the LNG (Gulf LNG) and we welcome them into the country.
“Our focus is to develop Elk-Antelope as quickly, efficiently in the best possible way, using minimal capital duplication, making maximum benefit of existing infrastructure in the country.""

This is going to get interesting with Total signing a cooperation agreement with CNOOC. The time for Exxon to make a move is nearing it's horizon if they want to guarantee that they get gas for PNG/LNG.

Good luck longs

[jft310]

I bet Exxon and Total are sitting down now to work this out.

[Tusker]

I bet Exxon and Total are sitting down now to work this out.

Well... MH (IOC) has made it known. He is speaking with that Big Cat.  My such Big Eyes... all the better to see the future.

Cheers

" border="0" class="smilie" src="images/smilies/cool.gif" />