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  • sltibbs sltibbs May 23, 2012 5:43 AM Flag

    PNGindustry news net

    So Duma has gone from tripping IOC up, to stumbling over himself to take credit for it. Funny.

    I look forward to the official announcement. I wonder who will be cutting the ribbon or holding the golden spade when official.

    Best,
    Sam

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    • Don't get too over-joyed yet.

      I'm hoping this is a $2.50+ per MMBtu deal based on the GC estimate of recoverable gas. Upfront payment would be in Shell stock plus cash. Say for 3 TCF controlled by IOC.

      So 3 TCF means $7.5 Billion in Shares + Cash to IOC immediately.

      Then additional payments come as more gas is added to reserves when more wells are drilled and tested. Brings it up to 5+ TCF; $ 5 Billion more in 2 years.

      BUT if IOC decided that the only way forward is to capitulate at a fire sale price on E/ A then the price per MMBtu may be much lower. Not a good thought.

      If Shell is the winner-take-all, then all bets are off in terms of the CSP/ Condensate. How that plays out is important as well.

      Keep watching and waiting ... hopefully it all plays out in the next 4 weeks.

      • 3 Replies to sir_bincma_gbe
      • The GCA estimated stated with two more wells that IOC would have 8.2 T's they estimated.IOC would sell based on staged payments of production . See the PRE deal for a model.Therefore if GLJ and GCA were right on the T's then IOC would get the higher amount of dollars in the sale.The cash is stagered.Not all up front.Expect Shell stock and some cash upfront.IOC needs $600 million to finish its part .No Big dividend right away is my take but enough for the $600 million and exploration cash maybe a dividend but after all the cash needs are satisfied.

      • sir B , as opportunist , I'm looking for a 200 USD PPS , so that will be made a fire sale price with ease

      • Everybody knows "sir_bincma" is Kenny the liar.

        No slick enough, Kenny.

        The whole world knows this is a Carl Civelli stock promotion.

        Small float rope-a-dope.

        Almost 9 million shares shorted on a below 35 million float.

        Muppet madness.

 
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