Henry Aldorf Interview from SHU/IOC reserves and 25T's
Henry explains monetization process
Some time ago Henry Aldorf was interviewed regarding the constant short line that IOC has no reserves. Phil was part of this interview also, but got into some of his analogies that was less clear than what Henry has to . Read this then relate it to what we know today. This is also a place Henry makes his now famous claim to 25 Ts in IOC's license areas.
I’ve been in the energy business for a long, long time. My last function was at a major called Marathon. I was the VP of Global Upstream Business Development and part of the executive team leading that company. My claim to fame at Marathon was the building of a LNG facility. Marathon had built a LNG facility, indirectly, about 40 years ago in Kenai, Alaska together with ConocoPhillips. But Marathon didn’t do anything until 2003. Didn’t have anybody who knew integrated gas. I was at the time the head of Marathon for Asia. They asked me to come back and see if we could get a nat gas project running. So we developed what is today the standard of LNG projects as far as speed, cost are concerned.
I should say one more thing. I’m not working for InterOil. I work for the large shareholder Pacific LNG which is affiliated with Clarion Finanz, which is affiliated with Carlo Civelli, the major partner in that.
A little bit about Pacific LNG because nobody knows totally what it is. Set up by Clarion Finanz AG in Switzerland. Pacific LNG owns about 20% of the Elk Antelope Fields. We own about 47.5% of Liquid Niugini which has the project agreement with the government of Papua New Guinea and is therefore licensed to develop gas in Papua New Guinea. We are also a major shareholder of InterOil. So we have a lot riding on this investment.
Where are the Elk Antelope Fields? This is the southeast area of Papua New Guinea. Port Moresby is right under here. And InterOil owns about 3 million acres in that area, which is a huge portfolio. Exxon is up here in the heights. Out of thi
Note this is 2010 before Triceratops drilling and before seismics from 236/8. Or Henry was LOW!! Poor Exxon only has 25 T's. IOC can easily have more certified assets in two years than Exxon. Or will IOC be a part of Exxon then??? Think TOT will let this slip away. Think the Japanese/Korean govt's will ignore this size assets closest to them????More fireworks to come.
At a deal averaging just $1.00/mcft, that puts the IOC share at approx $15,ooo,ooo,ooo, or in excess of $300/sh. That is only for a&e and doesn't include any other prospects or other deal offerings like cap ex or drilling. That's alot of $$$$$$