It took 2 years longer, that's OK. We have more gas and LNG prices are higher.
Allegations from Project Zebra, hatched in March 2011, $100 million crustacean bid 'in writing' offered April 2011.
No wonder the briber is rumored PO'd. So close, but oooooops, it was never crooked business as usual when they attacked an ethical PNG Co. (IOC) that had the legal support of an ethical PM O'Neill and the just political influence of major donor nations AU, JP and SK.
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The $US100 million offer is payable after dilution of Interoil's project equity, cancellations of Interoil's project agreement with the State signed in December, 2009 and the company's present PRL-15 over Elk/Antelope and dispossession of its exploration acres in Gulf Province.
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4 requirements of bribe offer----->IOC's defense
1) dilution of IOC project equity ----->Up to 50% State Equity offered (No SM would do that)
2) cancellation of 2009 PA----->IOC fought legally, supported O'Neill fairly, hired IB's bring clout
3) cancellation of E/A PRL-15----->Analyze bids and resign JAPEX as PNG development partner in E/A
4) disposession exp. lic. in Gulf Province----->Farm-In PRE Grant gas concession to PTT - Upstream JV beyond PPL15?
Ring.....Ring.....Ring