Lotsa IOC in OSH Update

[Tree]

http://www.oilsearch.com/Media/docs/1606...d41d-0.pdf

[admin]

Thanks for posting. Nice intro. Happy to see this:

• » Expected to be paid in 1H17, following drilling of Antelope 7

[Palm]

Which is repeat of what Roadshow stated.

[admin]

Which is repeat of what Roadshow stated.

Can't see that in black and white often enough..

[Stavros]

See Page 10 where Botten said:

"IOC were undertaking process that may have resulted in sale of interest in Papua LNG to new party:
– Would have made cooperation more difficult with more players"

Page 11:

"Cooperation and/or integration can create value through one, or combination, of tolling models, gas sale agreements and common ownership of hydrocarbons / facilities"

[Putncalls]

Spud in Sept and pay in June? That is not a pretty color

[Palm]

Good presentation; confirms several key points, but doesn't mean deal can't be enhanced some to seal it. They almost give some ammo to use for the case.

In fact OSH just joined Total in a deal in the ME. Good buddies all of a sudden. Wasn't it IOC who was supposed to have access to more projects w/Total outside PNG?

[admin]

Good presentation; confirms several key points, but doesn't mean deal can't be enhanced some to seal it. They almost give some ammo to use for the case. In fact OSH just joined Total in a deal in the ME. Good buddies all of a sudden. Wasn't it IOC who was supposed to have access to more projects w/Total outside PNG?

Perhaps if they had drilled Wahoo, Triceratops and Raptor in the right place..

Or had the time/money to drill Antelope South, or any of these other 40 prospects..

[Palm]

Yes, but the "Ifs" lives expired. Unfortunately no turning back any clocks.

[admin]

Yes, but the "Ifs" lives expired. Unfortunately no turning back any clocks.

Maybe that's ok with you, but not with me. Once again you don't get my point. It's not about "if's" or "turning back."

It is simply a matter of principle. Actions should have consequences. Foolish, irresponsible, badly informed actions and decisions should have bad consequences on those who took them.

Instead they are rewarded whilst the bad consequences are shifted elsewhere.

Whatever the deal, or no deal, I simply want to hold the guy accountable. By now it should be clear this company was badly mismanaged, but people don't seem to care because the deal is better than no deal for their wallet, at least for now.

I think we have to separate these issues.