New offer on table from Shell source below

[jft310]

Radio New Zealand

New offer on table from Royal Dutch Shell for PNG oil

Posted at 19:15 on 26 August, 2013 UTC

Royal Dutch Shell has reportedly submitted a new offer for InterOil’s Elk-Antelope discoveries in Papua New Guinea.

InterOil’s exclusivity arrangements had lapsed for its ongoing negotiations with ExxonMobil, but Upstream reports that Shell has submitted a new offer, based on what it calls "well-placed sources".

PNGIndustryNews reported last week that InterOil was no longer exclusively talking to Exxon over the onshore discoveries.

Earlier this month InterOil’s new chief executive officer Michael Hession revealed that the company’s focus would be "non-operated LNG, midstream refining and downstream distribution and upstream exploration."

News Content © Radio New Zealand International

PO Box 123, Wellington, New Zealand

[Tree]

Nothing new here JFT-san. All reports, including this one, of this Shell 'offer' cite Upstream and only upstream. If that report were not broken here last week on SHU does anyone think Blair Price would have picked it up? Or RNZI? Nope. And Upstream cited 'industry sources' so we really have no official comment at all. All hearsay, sweet I admit, but we need a corroborating source.

[jft310]

[quote='jft310' pid='28007' dateline='1377564829']

Radio New Zealand

New offer on table from Royal Dutch Shell for PNG oil

Posted at 19:15 on 26 August, 2013 UTC

Royal Dutch Shell has reportedly submitted a new offer for InterOil’s Elk-Antelope discoveries in Papua New Guinea.

InterOil’s exclusivity arrangements had lapsed for its ongoing negotiations with ExxonMobil, but Upstream reports that Shell has submitted a new offer, based on what it calls "well-placed sources".

PNGIndustryNews reported last week that InterOil was no longer exclusively talking to Exxon over the onshore discoveries.

Earlier this month InterOil’s new chief executive officer Michael Hession revealed that the company’s focus would be "non-operated LNG, midstream refining and downstream distribution and upstream exploration."

News Content © Radio New Zealand International

PO Box 123, Wellington, New Zealand

Best price for the additional assets could come after closing Exxon for train 3 and drilling Wahoo IMHO. This just ensures a good price and good deal terms for train 3.