*DJ Total, InterOil Near Deal to Develop Papua New Guinea Gas-Sources ------------

[Rob Cos]

*DJ Total, InterOil Near Deal to Develop Papua New Guinea Gas-Sources

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Thu Dec 05 19:08:49 2013 EDT

  (MORE TO FOLLOW) Dow Jones Newswires

  December 05, 2013 19:08 ET (00:08 GMT)

[efi426hemi]

Hey Rob, there is typo in that report - instead of saying (MORE TO FOLLOW) it should say (BOOMAGE TO FOLLOW)

Keep it on Ice,

Hemi

[Palm]

Confirms some rumblings. Thanks Rob!

[sydbod]

 Papua New Guinea Gas-Sources

Plural .......

Might be a buy in to some of IOC territory?

[Palm]

 They have agreed on a deal up to $3.6 billion and a Total will buy a majority stake in EA.

[Palm]

IOC to retain 30% interest. Final valuation will depend on delineated amount. $3.6 billion is value is at least 9 Ts are delineated.

Total emerged as leader in last few days and other final bidders were Shell and Exxon

[Tree]

30 yrs. later question will be "Where were you when IOC/TOT deal agreement was posted?"

Thanks Rob.

[sydbod]

30 yrs. later question will be "Where were you when IOC/TOT deal agreement was posted?"

LOL .... sitting in my pygamas behind a computer screen drinking a glass of port, and it is already after midday ...... nope, better forget this moment for me.

[maui4marko]

Ready to enjoy the pending sunset while sitting on Kam II, VO Gold in hand. Nice way to end the day and begin my retirement.

[jft310]

DJ Total, InterOil Near Deal to Develop Papua New Guinea Gas-Sources

7:39 PM (GMT-05:00) Eastern Time (US & Canada) Dec 05, 2013

   By David Winning and Ross Kelly

SYDNEY--France's Total SA (TOT) and InterOil Corp. (IOC) are in advanced talks over a deal to develop two of Papua New Guinea's largest undeveloped natural gas fields, people familiar with the matter said Friday.

Houston-based InterOil has long sought new investment in the Elk and Antelope gas discoveries in Papua New Guinea, an impoverished Southeast Asian nation that is emerging as an important liquefied natural gas export hub.

In May, InterOil began exclusive talks with ExxonMobil Corp. (XOM) about the latter investing in the fields, but weren't able to complete a deal. InterOil then began talking to other parties, and earlier this month said it expected to announce a deal by the end of this year.

Total has emerged as the frontrunner in recent days for the InterOil assets in a three-way bid battle that also included Royal Dutch Shell PLC (RDSB) and Exxon, the people said.