Deal presentation

[jft310]

But we lose so much more than 8 TCFE.
Why no deal at TBR ?
Why no farm deals ?
Why do we shareholders lose most of FID and second certification payment .
Why did Oil Search ,Total and Interoil all say well testing and drilling was better than expectations ? The base line was GCA in 2013 with 7.1 TCFE . The upside presented us to 8 ?? That's criminal .

[ebster123]

JFT, MH is a lying piece of excrement, that is why. Kuru to the BOD!

[Palm]

We also have to look at where we likely would be (realistically) w/o any deal:
1: Cash burning machine that would run out of cash probably before Certification
2: Because of above pps drops to ? 20s?
3: Also because of above we likely see an equity dilute offering
4: Because of above JV progress is slowed down more
5: IOC would always be the weakest

Not jumping up and down with joy but we now would be part of an full blown operating company creating cash, paying dividends, protected-preferred sovereign PNG company. Those pushing that we must have 12, 13, 14, 15 Ts, many or most will be counting that you were right.

The 66% is of votes cast, not outstanding shares.
Best now is that they keep on proving things up to max
With Total buying chunk of PRL15 from OSH they likely have buyer(s) for 15-20% lined up or close to it. Japan? SK? China? Exxon?
Micah comment about announcement prob delayed because of this; when will that come now?

Will be interesting to see what analysts have to say.

[Stavros]

You are correct Pal.
That's why I said IOC as a standalone entity is no longer possible.
We must accept that there will be a deal.
WE MUST FIGHT TO GET THE DEAL SWEETENED

1. 25% of OSH instead of 14%
2. CVR at US$ 1.0 per mcfe; not US$ 0.77 per mcfe
3. Floor Price of US$30.00 per CVR

[Palm]

Also, with viable production assets now locked up OSH (and Exxon?) can now move ahead quickly and for that OSH shares should appreciate? Will they become an acquisition target more sought after now?

O'Neill will put pedal to metal on project(s) with elections on horizon. Japanese and petro projects along with others can now plan timetables.

[Stavros]

AGAIN - - - good deal if we get more %age of OSH and higher CVR value

[Kaliboo]

AGAIN - - - good deal if we get more %age of OSH and higher CVR value

So we have 2 things to vote on right?  The first is the PM vs MH round of pink and blue ballots.  The second is in July to reject the offer.  It seems PM is the closest thing to a white night but what is his strategy now?  Agree that IOC must be sold but at much better terms.  It seems PMs issues are now moot.  So do vote for or against those.  If he wins then who knows where this will go.  For me the only thing that matters is getting a better deal.  If PM somehow gets in control I fear a major screw up

[trans]

AGAIN - - - good deal if we get more %age of OSH and higher CVR value

So we have 2 things to vote on right?  The first is the PM vs MH round of pink and blue ballots.  The second is in July to reject the offer.  It seems PM is the closest thing to a white night but what is his strategy now?  Agree that IOC must be sold but at much better terms.  It seems PMs issues are now moot.  So do vote for or against those.  If he wins then who knows where this will go.  For me the only thing that matters is getting a better deal.  If PM somehow gets in control I fear a major screw up

This is a better deal than you  think.   It's time weighted and if you take the moving parts priced at year end,  it will likely surprise you.  A PM deal pretty much trashes this deal imo.   PNG govt is also an issue here with  elections in July.  PM deal is a disaster in waiting likely, another blocked deal......too short memories by us all.......use your heads....imo

[Palm]

Agree trans. This is LT better than anything we'd get as things will start moving now as they should. I'm not jumping up and down thrilled, but I could see where things were headed until we finally get a plant up and running and finally get some cash flow, and it would be very tough. PPS would be well below $31 for a good time and continue to be heavily discounted until cash flow from operations was coming in.

Cash in your pocket is nice, but look where it gets companies like Apple. Prospects are nice, but for IOC only seen as cash eaters.

[Tree]

AGAIN - - - good deal if we get more %age of OSH and higher CVR value

So we have 2 things to vote on right?  The first is the PM vs MH round of pink and blue ballots.  The second is in July to reject the offer.  It seems PM is the closest thing to a white night but what is his strategy now?  Agree that IOC must be sold but at much better terms.  It seems PMs issues are now moot.  So do vote for or against those.  If he wins then who knows where this will go.  For me the only thing that matters is getting a better deal.  If PM somehow gets in control I fear a major screw up

This is a better deal than you  think.   It's time weighted and if you take the moving parts priced at year end,  it will likely surprise you.  A PM deal pretty much trashes this deal imo.   PNG govt is also an issue here with  elections in July.  PM deal is a disaster in waiting likely, another blocked deal......too short memories by us all.......use your heads....imo

Ditto  and now let's move on Santos, bring in Asian utilities to Papua LNG JV and have both LNG projects JV partners aligned and develop as economically advantaged as possible.  OSH is now a morer huger takeover target and if OSH survives Botten will elbow both Patrick and Rex to get our best deals while PNG has our back.  This is alot better than first blush.