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InterOil Corporation Message Board

  • martinistocks martinistocks May 7, 2013 9:47 PM Flag

    Stay focused on the prize. Company two weeks ago said this

    Near term corporate goals:
     Enter into an agreement with an LNG partner including a sale of interest in the Elk and Antelope resource
     Ramp up to two rig drilling program at Elk and Antelope and PPL237 with PRE.
     Continue LNG pre-investment to drive the development timeline and reduce EPC contractor and strategic
    LNG partner bid risks
     Generate positive EBITDA from our operating businesses
    InterOil and its advisors are in the final phase of a competitive partnering process
     Advisors have informed the Company that several bids to partner with InterOil in its Gulf LNG project
    have been received. The bids received are from the types of companies we anticipated.
     The InterOil Board of Directors met the Company’s advisors during March 2013 to evaluating bids
    received for the development of the LNG Project utilising gas from the Elk and Antelope fields in PNG.
     On April 15, 2013, InterOil announced that the Joint Venture Operating Agreements (JVOA) relating to
    operations within Petroleum Retention License 15 were approved by the Minister for Petroleum and
    Energy and registered under the Oil and Gas Act.
     Confidential negotiations with more than one party are ongoing. The Company is confident that the
    complex partner selection process is on track.
     InterOil, and the partner we select, plan to form a joint venture which we believe will bring an LNG
    processing facility to PNG of a nature and in a manner which will be satisfactory to the State
     The Gas Agreement to be entered into with the PNG State, which will supercede our 2009 Project
    Agreement and control the project development, will be negotiated with the LNG partner we select and
    the PNG Government.

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IOC
39.53+0.25(+0.64%)Jan 27 4:02 PMEST

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