Total: Unblock the project by removing InterOil

[weaselpuppy]

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"Clawbacks? Ummm...what if we already spent it all?"

[Putncalls]

At least Moe Green had the opportunity to pick a price.

[oliver.gump]

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"Clawbacks? Ummm...what if we already spent it all?"

Yep, and that right there is how they get into financial difficulty that will dog them for the rest of their lives. A court ordered repayment plan that will leave them penniless and dependet on the pension for their retirement.

[sageo]

"And now we have Exxon as a partner, with their financing power and understanding of LNG." That's a bit of speculation, isn't it? No doubt hope for a self fulfilling prophecy. I still wonder why IOC seen as a problem partner. Other than its corrupt management. Oh. I wonder just how much corruption OSH has engaged in during its decades of work in PNG. Every time I hear "close national ties" I read "history of corruption "

And that too, is all true.

Oliver - Yes,it is all true . Seems we have a dichotomy here ....more and more corruption & deceit while we see less and less prison terms . Hmm . Crime appears to pay,after all ....and in hession's case,very well (like millions) !

Sageo - But you and I both know that there are much more important things in life than just money.

Lady - Truer words were never spoken,but often times, it sure runs a very close second !

When I agreed with Oliver,I guess it was just another way of venting my frustration . While I understand that hession (notice my small "h" will get his "30 pieces of silver" for betraying us,I think about"what might have been" if he would have been a person of good character and recognized what an awesome opportunity he had to build a quality,mid-sized exploration  company . [ 4 million acres with such great potential ]

If the Exxon deal holds up,they will be greatly rewarded in the coming years....it will then be hearald as the "master coup" of the decade ! As Red often said,"God Bless" .

[cybersssss]

The Arun field made Mobil LOTS AND LOTS of $$$$. This field will do the same for Exxon now if the deal goes through.

As far as Hession is concerned, not to go into Psychoanalysis, but he seems to me the type of person that only cares about someone's stature/title. He doesn't want to build an exploration company, he wants to impress the "big" boys. The SM. Show them that he can help them out. They will end up screwing him over as well once they have used him. He is a DISHONORABLE person. This is evident from miles away.

[cybersssss]

I posted this on snother thread and think it's important:

Per this cc transcript Total is telling us that IOC is effectively blocking this project by existing. They say they will not bid because Exxon unblocked the project and this is their only goal. Be that as it is, vote no on this deal and Interoil is in play still. We will never get a better deal unless this is voted down.

[will2bgreat]

I posted this on snother thread and think it's important: Per this cc transcript Total is telling us that IOC is effectively blocking this project by existing. They say they will not bid because Exxon unblocked the project and this is their only goal. Be that as it is, vote no on this deal and Interoil is in play still. We will never get a better deal unless this is voted down.

Cyber,

I keep hearing people on this board say that and I clearly don't understand.  Let me lay out my scenario.

• We and 34% of the other stockholders vote no.  The next day, the price drops 10% and that's a minimum number based upon the Woodside pullout of the OSH bid which was only 15% over the market cap at that time.
• We still have the same management team in place, where do they take IOC now?
  
  • I'm sure Mike wants his pay for the busted deal.  They all give themselves lots of stock (RDSs).
• The latest financials will give us the liquidity, but I bet we are not in good shape with our portion of A7 starting.  I'm not saying these things are insurmountable, but they may be with the current IOC management.
• We can sell down some of our assets to raise capital, but with this management team, I have no confidence that the funding will be spent wisely.

So someone needs to show me the path if they expect me to vote no to the XOM deal.  Right now, I don't see that pathforward.

[bdahl385]

How about this for a sweetened XOM bid, I would vote YES to this. Keep the existing deal as it stands with these exceptions. 1) Remove the ceiling on the certification number. 2) After drilling / testing A7, XOM and TOT each name an independent reservoir engineering firm to certify the field. 3) IOC gets to name GLJ as the 3rd certifier. 4) Payout based on the average of the 3.

With modest success at A7, I think GLJ would be >12 TCFe, the other two should come in around 8 to 9 TCFe based on the recent OSH certification numbers pre A7. This makes the average about 9.5 TCFe and a CVR valuation around $20. This gets me to the "minimum" I would like to get for my shares of ~$65 each (combo of the CVR and XOM stock).

[Putncalls]

The brown field Papua LNG development costs a lot less. Total had to FID there own greenfield project. XOM will release them from that obligation.

[jft310]

The banks require before loaning money an FID on the project . Even an Exxon train 3