From usually reliable sources..

1. There can be little doubt that InterOil’s Elk/Antelope resource, it’s upcoming validation of Triceratops (which could be as big as Antelope, on the evidence of a 1959 well flowing gas and recent seismics showing a reef and a much larger structure) and 56 other structures, 14 of which with possible reefs, has, and will generate enormous interest.
2. This is simply because it’s one of the last frontiers where significant and reasonably cheap discoveries can be made. Most of the promising energy fields in the world are off-limits (or available at highly onerous terms) because of resource nationalization (‘Political Peak-Oil’). Major energy companies face dwindling reserves from current fields (to the tune of 6% a year) and increasing exploration cost as they are increasingly restricted to marginal and/or unconventional opportunities.
3. We don’t know whether the story in PNG’s Sunday Chronicle about Shell’s backhanded attempt to enter InterOil’s project through the back door is true. However, we have reasons to believe it’s very likely they will make an attempt to come in as normal corporate citizens, through the front door.
4. We also have reasons to believe they might not be the only ones. There are no reasons to provide Shell with a preferential treatment. The process will be ‘competitive’
5. Keep in mind, while we cannot vouch for this with absolute certainty, we have good reasons to believe a solution to the ‘crisis’ (which might very well be more perceived than real) along these lines is worked upon.