Very interesting new PNG Resource episode just out on EMTV. This is a great feature on the complete history of OSH in PNG right up to today and includes the borrowing from IPIC for PNG LNG in exchange for the OSH shares and the subsequent purchase of the PAC LNG interests in PRL 15 and the government's purchase of 10.1% interest in OSH. A lot of information is provided by Peter Barker, Director of The Instintute of National Affairs. It's clear he understands what has gone on and he explains how the OSH purchase of the PAC LNG interests changed things and clearly states that this move was very strategic and gives OSH a lot of leverage and possible influence through its relationship with the government on how the EA resource is used; either through "use of existing infrastructure" or for a "new facility".
This echoes what several of us have been saying and concurs with what O'Neill has been saying since December. They are looking very hard at this "fastest and least expensive" to market idea it's clear.
The whole piece on OSH is worth watching to get a very good perspective on OSH's status, importance and influence in PNG, as well as their relationship with the government. Barker also explains how the preemptive right is important in this whole thing. At the 20:00 mark is roughly where he begins to discuss things specific to IOC's project. Confirms a lot of what we have been saying.
