Will a world recognised LNG operator sign on without formal NEC approval of IOC's project first, or would it be part of the agreement that NEC approval is required for the agreement to be binding?
That is fine Getit. But if we are dealing with a corrupt group of individuals, it still means they can just keep saying no to anyone other than Shell. I hate to say it, but the govt has all the cards and that scares the hell out of me.
I also think the majority of shareholders views are more aligned with the PNG government than with Phils.
We're waiting for FID in 2009. Then out of know where comes a complete re-do with EWC and later Flex. I know I was a little taken back by that. Now we hear two different opinions on what happened. 1) IOC couldn't find any interest or 2)Phil couldn't make a deal at his price.
Either way, it is not what we were told by the company going into the end of 2009.
So here we sit, 2012... and everything is in disarray do to Phil changing the plans. Shareholders and the PNG government are frustrated with Phil.
So, god do I hope Phil really has interested parties that the PNG will accept. If not, we are headed to the single digits and the PNG government will strip IOC of its exploration acreage. As well it should if Phil screws around anymore.
"IOC has coordinated a list of acceptable operator/partners with the government"
That's what IOC has been saying, but after 3 years of hearing stuff like that, I don't put a whole lot of weight into what the company says it's going and the time frames they state.
The only upside I see now is, the government actually telling IOC to get it done or they will be out.
That may actually be the push Phil needs to get off his rear, and make a deal.
PNG is in total control of everything,, IOC has no control,,, I predict PNG just takes back the leases in 6 months,, a year tops,,, go buy your rope soon,, I expect there'll be a line,,,,,
THAT $100 MILLION ON THE TABLE IS FOR PNG
You and the other long rubes wont see a penny of it when PNG takes back the leases and hands them over to whomever they choose.
But dont worry, IOC will still have the small old leaky refinery,,,
HO HO HO HO HO HO HO HO HO HO HO HO HO HO HO