Pavel: Selection timelines forward

[Tree]

Phil:

That's kind of like answering a question "How long is a string?"  This depends upon unknown contingincies by bidders.  Will know much more in the next 30-60 days.

[Tree]

Pavel: 'How long is realistic timeframe for LNG construction?

PM: Proposals from 36 - 60 mos. Depends on bidders portfolio needs for fuel.

Chris from West Lakes Securities:

'Will we get partner selection updates only at end of process or interim updates?

PM: 'We will provide updates when they are required legally (material developments only).'

Paraphrase Phil further - 'we do not want to influence the end outcome by commenting on it prior to conclusion.' That

[jft310]

Update from IOC after all the bids received as required. Early March BOD meeting to review those bids.Taint gonna be no 60 days

[jft310]

March BOD meeting the 9-10th could hear the 11th.Best guess

[bertl05]

I might have misconstrued the 30-60 day answer. But I hope it didnt refer to how long it would take to select a bidder from the list. What could be the rationale for that? Or did I misinterpret that comment?

[bertl05]

I think it was a response to LNG plant construction plans actually. May have been misinterpreted by the mkt though, hence the current sale price.

[TxPm]

Bert, I believe this was Phil being conservative. Technically it could take 30-60 days to select a partner but I have to agree with JFT that I don't think we are going to have to wait that long.

Jft, On a seperate note after the CC today are you still expecting an announcement tomorrow of some sort?

[cybersssss]

My take on the call is that:
1) Winning bid will be selected as soon as they have all the information- This can be tomorrow or a couple of weeks
2) FID would be in 30-60 days- Phil specifically mentioned that it will take that long in order to figure out desires of the winning bidder for modular vs stick built and logistics.
3) Depending on gas needs of the winner will decide on the 36 months to 60 months timeframe for gas production

All is positive...Firesale at this price....will not stay here long

[trans]

My take on the call is that: 1) Winning bid will be selected as soon as they have all the information- This can be tomorrow or a couple of weeks 2) FID would be in 30-60 days- Phil specifically mentioned that it will take that long in order to figure out desires of the winning bidder for modular vs stick built and logistics. 3) Depending on gas needs of the winner will decide on the 36 months to 60 months timeframe for gas production All is positive...Firesale at this price....will not stay here long

I agree Cyber, this is a total fake out tothe downside.  Very similar to 1/23 selloff, short 10 point dip off high, then back up again

trans

[admin]

It isn't as if they see these bids for the first time, now is it..