Resource PNG - Episode 13, 2014- Interoil/Total deal
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Resource PNG - Episode 13, 2014- Interoil/Total deal
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05-08-2014, 11:36 PM
Interesting episode from back in April. In it Botten states that OSH believes EA potentially contains "more than 7 TCF of gas". He discusses the whole Dispute issue but says little more than what we have already seen. The part on IOC/Total deal is only the first 10 minutes and curiously Botten is the only person interviewed on the deal. He sure seems like a very nice guy; IOC and Total must be the bad guys in this. 
05-09-2014, 01:24 AM
thanks Palm..interesting!...speculating on a few TCF's more or less....hope Botton's right.
05-09-2014, 01:33 AM
'Palm' pid='43025' datel Wrote:
Not a nice guy today. Maybe some got advance warning...
(05-09-2014, 01:33 AM)Petrovale Wrote: Appears that The Australian took the info from the interview which was back in early April. The quote about the JV rule book was in that PNGResource News interview. Tricks of the trade I guess? On review of the article this was just yesterday at the conference. So those rumors about Woodside being interested in OSH are for real it seems. As well the concerns about gas supplies. And this:"“The arbitration remains on process, and frankly, there is a lot of value to Oil Search and others,” he said." A lot of value to Oil search and "others". Who are the "others" Pete? So if OSH succeeds in its Dispute they must match the Total deal. He's saying that the cost of that would be worth it due to the resource having "lots of value". At least now he's admitting it. 
05-09-2014, 01:39 AM
google "botten, defends dispute, australian" to get around news block from wsj.......interesting, Botten now says 9 TCF.....well well
(05-09-2014, 01:39 AM)trans Wrote: Not sure Botten said the 9 Ts as that was not in quotes, but the fact that in the interview he stated that they believe there could be "more than 7" Ts of gas gets us going in that direction. But for The Australian to have that comment in an article is at least worth noting. Surprised they didn't use the 5.3Ts OSH used back at the end of February.
05-09-2014, 02:23 AM
The article is really a rehash of what we've heard before, that the dispute process is underway, but that, "Botten yesterday said that the parties were in discussions in an effort to find a commercial resolution to the dispute", after quoting Botten as saying, "We believe people should stick by the joint operating rule book".
05-09-2014, 03:05 AM
OIL Search boss Peter Botten has defended the company’s decision to contest a Papua New Guinea gas deal between French major Total and US-listed InterOil, saying original agreements should be honoured.
“We believe people should stick by the joint operating rule book,” Botten said. Oil Search has embarked on a dispute process over InterOil’s sale of a stake in Elk and Antelope to Total, and whether Oil Search had pre-emptive rights, which involves arbitration proceedings in London and injunctive relief through PNG courts. Elk and Antelope, which may contain up to nine trillion cubic feet of gas, or enough for a two-train LNG project, are a major prize because their gas has a simple, cost-effective way to market through expansion of the nearby $US19bn ($20.24bn) PNG LNG plant owned by Exxon, Oil Search and Santos. Botten yesterday said that the parties were in discussions in an effort to find a commercial resolution to the dispute. “The arbitration remains on process, and frankly, there is a lot of value to Oil Search and others,” he said. The Oil Search managing director said at the Macquarie Group conference in Sydney yesterday that he remained unperturbed by any suggestion that the company was a takeover target of large players such as Woodside Petroleum. “At the end of the day, it will happen or not happen, it is up to them,” he said. “If shareholders get a good offer and they want to sell, good on them; if not, we will just keep doing what we’ve done reasonably well over the last 20 odd years.” Botten played down concerns about additional gas supply undermining PNG projects, saying that supply would increase, but so would demand.
05-09-2014, 03:12 AM
He doesn't strike me as a "nice guy"; he strikes me as a sweet talker who is phony, conniving, and sleazy.
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