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InterOil Corporation Message Board

  • treeczar treeczar Jan 6, 2011 3:49 PM Flag

    Madison Williams Tidbits

    PNG Impressive Discoveries:

    Elk/Ant 9.1T Interoil
    Hides 6.7T OSH/XOM
    Juha 2.7T OSH/XOM
    Angore 1.2T OSH/XOM
    P'Nyang 1.1T OSH/XOM
    Pandora 1.0T TLM/OSH
    PukPuk .8T TLM
    Kimu .7T OSH
    Elevala .6T TLM
    Stanley .3T TLM <---note: .3T is impressive discovery?

    "Additional Financing Available through Sale of Upstream Interest
    Through strategic foresight in structuring the LNG and CSP deals, InterOil retained the flexibility of selling down additional interests in its upstream portfolio at a later date. The company currently has approximately 58% ownership, inclusive of the two 2.5% options that were given to Mitsui in conjunction with the CSP deal. We believe that Mitsui is likely to exercise its options eventually, which would lower IOC’s stake to roughly 53%. From there, InterOil has indicated interest in selling down an additional 5%-10% stake in increments of 2.5%, preferably in conjunction with LNG off-take agreements" <----note: Mitsui or another Jobama will step up.

    Global LNG Market:

    62.8% Asia <---note: Asian 181mtpa to be 350mtpa by 2020
    28.4% Europe
    8.4% Americas

    "Modular LNG: The Missing Link for Smaller Operations:
    For the last 30 or so years, the LNG business, especially in Asia, has consisted of a standard model involving the construction of a large-scale LNG facility of 4 mtpa or above, at a cost currently in excess of US$3 billion, requiring a 600 MMcf/d gas supply and 4.8 Tcf or above certified proven gas reserves for a 20-year off-take contract. Usually, in order to get an off-taker to commit to buying LNG under a long-term (20-year) contract, the gas feedstock has to be certified by an international certifying company―a process that can take up to 5 years. Many gas wells usually have to be drilled in order to prove the existence of the required gas reserves, which is capital-intensive and time-consuming. Banks will typically require the commitment of an LNG purchaser under a long-term off-take contract in order to finance such LNG projects. This means that ground for an LNG facility usually cannot be broken until 4.8 Tcf of gas reserves are proven, adding, in most cases, years to a project’s start. The significant financing costs for development and time to market have been major obstacles. <---note: Janine said our guys were smart

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