Positive commentary from ITG after conversations with XOM

[Resourcearb]

"PNGIndustryNews.net reported this morning that the XOM deal is dead because the negotiation exclusivity period has ended.  ITG Calgary spoke with XOM on a number of occasions about this.  Generally, during active negotiations the exclusivity period is a guideline, not a deadline that is commonly exceeded and extended as necessary. We do not believe this is an issue whatsoever."

As I referenced earlier, I would take it a step further and argue that today's report of exclusivity lapsing is a significant positive development, as it implies InterOil is in a very strong negotiating position with compelling alternative bids in hand.  It also indicates that the process is coming to a head and the deal will soon move to closure.

[jft310]

Smart man this resourcearb

[Gator]

More cases are settled on the court house steps, than in the court room. Once a deadline is set, the motivation is to wrap thing up.

[Getitrt2]

Refresh me on ITG, please? It's been a long week!