TOTAL AND CHINA NATIONAL PETROLEUM COMPANY SIGN A STRATEGIC COOPERATION AGREEMENT
Paris - While attending the China Development Form in Beijing at invitation of the Chinese government, Patrick Pouyanne', Chairman and CEO of Total, signed a strategic cooperation agreement with Wang Yilin, Chairman of China National Petroleum Company (CNPC) on March 20 to extend the two companies' existing collaboration.
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"This strategic cooperation agreement reflects our respective commitment to strengthening our partnership and jointly developing new projects," commented Mr. Pouyanne'at the signing ceremony
Ring,Ring,Ring...
Operator: Hello there, may we speak with Mr. InterOil Shareholder please. I have Mr.Wang Yilin on the phone.
Please go ahead
WY: I have heard and read wonderful reports from Peter (OSL) and Patrick (TOT) regarding your strategic energy fields in PNG.
IS: Thank you for noticing... Did you not get a invitation from MH (IOC) several months ago?
WY: Sorry no, it ended up in the mail room of Petro China in error
IS: Did you not get a invitation from PP (TOT)
WY: Not yet, We are expecting one once (TOT) has acquired your company, which brings me to the point of my call. We would like to offer you a all cash USD offer of a 100% acquisition price of say 80.00 - 85.00
IS: Very attractive, but at this time IOC management can not speak to you.
WY: Odd, are they not responsible for maximizing your shareholder value?
IS: Odd... yes, that is what we were led to believe.
WY: Given there may be a opportunity in future for your consideration, may I call you again?
IS: Thank you, you have been very gracious... I will return your call at that time
Operator: Your call has not been disconnected.
Wang Yilin turns to speak to a trusted aide:
I love the markets. We can take control of a strategic energy resource for the people of China, and extend China's power and influence all the way to the shores of PNG. At the same time shove aside PM ABE and Japan Inc. Our LNG freighters will now ply the oceans outside the China sea and into Japan strategic shipping routes. I can envision it now. China's first aircraft carrier docked at Port Moresby Yacht club. XI Ping will smile down upon us.
The aide smiles and nods.