03-14-2012, 02:25 AM
I think we could well unleash a bidding war for parts or even the whole of the company.
With the reef all but confirmed by now, resource numbers are now likely to be in double digits. The confirmation of the seismics also bode well for the dozen other prospective reefs.
In short, this could very well develop into an Arun sized resource position, and this on an island where resource nationalistic policies have been kept at bay so far and is close to the most lucrative LNG export markets.
This seems now big enough and promising enough for the biggest beast to unleash a bidding war. The fact that Korea and Japan (the two biggest LNG importers) have joined forces in order not to compete against one another is already quite telling.
But there are the Chinese, other majors, and there is Shell, with its Petromin deal and its newly opened office on PNG..
I'm not saying it's a necessity, but simple logic says there aren't that many of these opportunities around. Lots of big oil&Gas companies pay billions for US shale gas resources where prices are lingering at $2.5/Mcf and drilling isn't nearly as profuse..
With the reef all but confirmed by now, resource numbers are now likely to be in double digits. The confirmation of the seismics also bode well for the dozen other prospective reefs.
In short, this could very well develop into an Arun sized resource position, and this on an island where resource nationalistic policies have been kept at bay so far and is close to the most lucrative LNG export markets.
This seems now big enough and promising enough for the biggest beast to unleash a bidding war. The fact that Korea and Japan (the two biggest LNG importers) have joined forces in order not to compete against one another is already quite telling.
But there are the Chinese, other majors, and there is Shell, with its Petromin deal and its newly opened office on PNG..
I'm not saying it's a necessity, but simple logic says there aren't that many of these opportunities around. Lots of big oil&Gas companies pay billions for US shale gas resources where prices are lingering at $2.5/Mcf and drilling isn't nearly as profuse..
