I was just alerted that the E&P analyst at CIMB, which covers companies like WPL, OSH, etc..., published a note on March 11, 2013 in which the following excerpt was written:
"Over the next couple of months drilling is to commence at the first of the
offshore Gulf of Papau assets, Flinders 1 and Hagana 1.
The Gulf of Papau, with the recently farmed in Total, could be the chance for
Oil Search to move away from under Exxon’s shadow on a potentially
While Oil Search says all options from standalone LNG, floating LNG and
integration into existing infrastructure are open, it is likely it would opt for a
path that allows it more control over development timelines, unlike at PNG
LNG where these are to all intents and purposes in the hands of Exxon.
Geologically exciting, the potential in the Gulf of Papau is large. We do not
believe a company such as Total would make a move into a country by taking
just a small non-operator position, as it has in the Gulf of Papua, and stop
With stakes in the Interoil project up for sale, or an acquisition of Santos’s stake
in PNG LNG as we discuss in our accompanying Santos note , Total is likely to
consider something far bigger in the region."
Sentiment: Strong Buy