Morgan on IOC today

[jft310]

http://linkback.morganstanley.com/web/sendlink/webapp/f/8njhlrg8-3pgr-g00e-8055-005056013100?store=0&d=UwBSZXNlYXJjaF9NUwA0ODYxYjcyYy0xODg2LTExZTYtYTE3ZS02Zjc4ZjQ1ZmZhYmY%3D&user=lejenysa9g69-14&__gda__=1589533774_187cad3d0a7d1275a281af945bd37f8e

[admin]

http://linkback.morganstanley.com/web/sendlink/webapp/f/8njhlrg8-3pgr-g00e-8055-005056013100?store=0&d=UwBSZXNlYXJjaF9NUwA0ODYxYjcyYy0xODg2LTExZTYtYTE3ZS02Zjc4ZjQ1ZmZhYmY%3D&user=lejenysa9g69-14&__gda__=1589533774_187cad3d0a7d1275a281af945bd37f8e

Thanks for that, basically that means that Ant7 is going ahead, IMHO. Not happy about that, but to quote Tony Soprano, "whaddayougoingtodo..."

[admin]

From the report:

The well will test three factors:

• position of the western fault (Exhibit 2Exhibit 2),
• top structure, and rock type/quality.
• "Blue sky" case hinges on presence of high quality dolomite

[jft310]

I agree Admin , oh well

[Putncalls]

Told ya so.

[Tree]

Why won't the JV just agree to agree on the generally agreed ~12-15 T's which have been 'certified' by many experts here on this MB??
Isn't that good enough for TOT???
C'Mon Pouyanne, give us that $2.5 B!!!!!

[jft310]

It's a pile of money all agree, may take Antelope South to get 12-15 T's !?

[admin]

Well, if it can make a 3T difference and if it's really necessary for right sizing the LNG plant, I guess we have to swallow it, but perhaps some of our experts have an opinion about this (derisking the fault line and stuff)

[katytrader]

Well, if it can make a 3T difference and if it's really necessary for right sizing the LNG plant, I guess we have to swallow it, but perhaps some of our experts have an opinion about this (derisking the fault line and stuff)

I am not a geo-anything but have taken Pouyanne at face value when he has said that Papua is a "long cycle investment" and that it is important to get it right.

The French have a technocratic streak in their culture, witness the acceptance and success of nuclear power generation and high-speed trains for decades.  And there is an elitism which allows the multi-degreed Dr Hession to push buttons unavailable to Mulacek, or Botten for that matter.   I expect a decision to proceed with A7 because a better technical understanding is wanted, if not needed, and it has little to do with timing of payment from TOT's perspective.  fwiw

[Putncalls]

A7 may be needed just to get a firm 9T estimate? Which is a 2T upside from the 7T estimate.