Kavo: Gulf Project all set; details fuzzy

[Palm]

Kavo getting ahead of himself again? Sounds like it. Not sure he has details right, but excitement is building

Gulf LNG project all set

Source:

The National, Wednesday 10th April, 2013

 By GYNNIE KERO

GULF LNG project will go ahead as initiated once InterOil announces its joint venture partner for the project at the end of June, Gulf Governor Havila Kavo says.

He said this yesterday during the opening of InterOil’s community office complex and landowner trade store at the Wabo station in Gulf.

Kavo said 50% concession of the Gulf project benefit would go towards the state making it the biggest ever project development in PNG.

“InterOil has been at Wabo (Baimuru district) for more than 11 years and put Wabo on map.

“The world now knows where the Elk/Antelope gas fields are.”

He acknowledged Prime Minister Peter O’Neill and the national executive council (NEC) for the approval of InterOil’s LNG development project.

“As the prime minister has announced two weeks ago, the decision also approves the acquisition by the state of an additional 27.5% equity interest in the Elk/Antelope gas fields, over and above the 22.5% interest to which it is entitled under the Oil and Gas Act, on terms to be negotiated with InterOil”.

With weeks to go before InterOil announces its joint venture part­ner in the Gulf LNG project development, corporate development executive vice-president Christian Vinson told The National that the Gulf LNG project was going on well.

He added that InterOil had to find the right partner to operate the project.

http://www.thenational.com.pg/?q=node/48018

[Palm]

We should probably put little weight in the details of this article. For instance, 2 weeks ago O'Neill announced approval of the Gulf LNG project? I don't think so. 2 weeks ago was the trip to Japan. This looks like one of the articles of old from The National. For instance, why would Kavo know any details of an announcement and that it was set for the end of June? He wouldn't. Any such announcement would be done with major photo ops.

Looks like a "delay" planted article.

[ellerslick]

We should probably put little weight in the details of this article. For instance, 2 weeks ago O'Neill announced approval of the Gulf LNG project? I don't think so. 2 weeks ago was the trip to Japan. This looks like one of the articles of old from The National. For instance, why would Kavo know any details of an announcement and that it was set for the end of June? He wouldn't. Any such announcement would be done with major photo ops. Looks like a "delay" planted article.

Adam then the National, Adam then the National. We are not at $65 yet.

[Palm]

Kind of a pattern isn't it? Liars tend to do that.

[Tree]

Misprint. Kavo said April not June.

[jft310]

All should agree that the shorts game was/is to play the delay and look at the Volkswagen chart and some will try to catch the top of the spike. The shorts will short more at the top.Those that aren't to levered that is. IOC will not go back as low as this but timing will be critical. Especially now that their sources of info are drying up.

[jft310]

pickboones take

Gulf LNG project all set" - Deal announcement in "weeks"
.

The evidence is building that InterOil anticipates announcing its sell-down partnership agreement by the end of this month. At the end of last week, InterOil CEO Phil Mulacek reported to PNG Industry News that Elk-3 would spud in the next several weeks, an indication that the company anticipates having clarity on the partners who will be contributing their pro rata share of the drilling expenses by then. Today's National article titled "Gulf LNG project all set" indicates that "With weeks to go before InterOil announces its joint venture part­ner in the Gulf LNG project development, corporate development executive vice-president Christian Vinson told The National that the Gulf LNG project was going on well". Most of today's article comprises Gulf Governor Havila Kavo praising InterOil and the Gulf LNG Project, and though the first line seems to be written in a confusing manner, the author is likely trying to convey that FID will occur by the end of June following InterOil's partnership deal being inked with a world class operator (which, as Christian Vinson reported to the National, will occur within weeks).

After a month of virtual silence since InterOil's press release confirming receipt of multiple bids in the beginning of March, the recent trickle of comments by O'Neill during his trip to Japan, Kavo, Mulacek, and most recently Christian Vinson provides a very strong indication that a successful deal is undergoing closure and will be announced this month

[Palm]

No doubt that this is a fabricated article with a patchwork of quotes/info. For instance, the following is a word for word quote from the November story where NEC conditionally approved Gulf:

"the decision also approves the acquisition by the state of an additional 27.5% equity interest in the Elk/Antelope gas fields, over and above the 22.5% interest to which it is entitled under the Oil and Gas Act, on terms to be negotiated with InterOil”.

They stop at nothing

[jft310]

Its been said one pays to get an article printed in The National. Anyone can write the article with no checking of facts just a passing of the money. We will buy more calls given the chance. Deep in the money calls.

[Tree]

No doubt that this is a fabricated article with a patchwork of quotes/info. For instance, the following is a word for word quote from the November story where NEC conditionally approved Gulf: "the decision also approves the acquisition by the state of an additional 27.5% equity interest in the Elk/Antelope gas fields, over and above the 22.5% interest to which it is entitled under the Oil and Gas Act, on terms to be negotiated with InterOil”. They stop at nothing

Oh great! I was worried about the Gov't taking a 50% slice at commercial terms as this would have meant the bids were so non-accretive that the Gov't couldn't pass up buying 50%!!  Now if we can only find out what's taking sooo looong.  I have called WA 18 times this morning, I called Phil and even his house cleaning lady at least a dozen times already.  I even e-mailed Calio and Pavel at least 50 times today and haven't heard back from them yet.

What ar they doing thts so important than responding to me?  I have 212 shares and they owe me some service!  Maybe they are all selling today as Gefvert was right and there are no SM and in fact no biddders at all!!