Confidentiality

[Tree]

Anyone else impressed that IOC is able to keep a confidentiality lid on negotiations for not even a peep leaked on this great deal today? E/A talks too are tighter than that pre-palmtok zebra. That is a testament to the quality of co. IOC is.

[Putncalls]

We never knew that T was in play. The question I have is why was T up for a farm out when there was plenty of NG at E/A?

[efi426hemi]

Hey Putncalls,

We did know that PPL237 was in play. Re-read point #2 from my Hemi research note: http://shareholdersunite.com/forums/topi...n-process/

I would expect that we will hear of 2 more farm out partners for PPL236 and PPL238 before end of June.

PDYOR, and Health and Happiness,
hemi

[Tree]

Hemtonk,
I would prefer either successful spud in ppl236 prior to a JV sale unless we get an offer too good to refuse. Either will make a fair mkt. sale.

Of interest is the back end obligation of PRE at $3.85/M ($2.53/M current value). 6 wells will be poked in T-2, 4 others in prospects with the goal of supplying gas to IOC's E/A CSPs, see the slides with pipes connecting them, and then off to the Gulf shores. Gulf LNG 7.6 Mtpa has enough gas for startup in E/A, it sure looking like T-2 gas is XOM bound to me. IOC is headed to a unique position with double the T's for their maximum alotted LNG production of 10Mtpa (from memory). Gotta sell it or keep building modules or an even bigger Gulf LNG stick built.