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  • binckbanker binckbanker May 23, 2012 4:25 AM Flag

    PNGindustry news net

    premature = we have no official new yet !!!

    Imminent = the new SOON

    nice , whats next ?

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    • 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

      • 1 Reply to sltibbs
      • 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.

 
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