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INDONESIAN LNG powerhouse Pertamina is rumoured to have made a bid for InterOil’s Elk-Antelope discoveries in Papua New Guinea.
Image courtesy of Pertamina.
An industry source said the leading LNG producer and exporter was bidding for a stake of the Elk-Antelope field.
Whether the bid is for an operating or smaller stake is not known. The source said the Indonesian state-owned company needed to import LNG to meet existing export commitments because its production was falling.
There is no other confirmation at this stage and PNGIndustryNews.net’s questions to Pertamina have gone unanswered for a week.
InterOil cannot legally reveal which parties have made bids, but previously signalled they had come from supermajors, and national oil and gas companies.
Pertamina raised $US3.25 billion through an Indonesian record bond issue this week and yesterday announced it signed a production sharing contract for a shale gas block in North Sumatra, with $7.8 billion to be invested over 30 years.
Various reports indicate that at least three supermajors have made bids for an operating stake of the Elk-Antelope field, which underpins InterOil’s Gulf LNG project that targets at least 3.8 million tonnes per annum but has scope for expansion.Sentiment: Strong Buy
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Strong Growth, great outlook. Monster short position will be forced to cover. Looking for up $3 tomorrow on great quarter. Bad news has stopped, people were worried this was going to be like ISRG. Flies tomorrow.
Sentiment: Strong Buy
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Read todays PNG news. CFO says it was a part of the partner process to have him retire.
Sentiment: Strong Buy
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InterOil CEO departure precursor to immediate deal announcement
by pickboone •Apr 23, 2013 6:47 AMExcellent analysis. Perfectly done. Stock to $100+ soon.
Sentiment: Strong Buy
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$150-$200 soon
Sentiment: Strong Buy
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Stock of the day today.
Sentiment: Strong Buy
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25% of shares short and great earnings, sales, and outlook? You kidding me? Next stop $20+
Sentiment: Strong Buy
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Bomb detection stocks will fly
Sentiment: Strong Buy
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This is big, should run for a while
Sentiment: Strong Buy
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Agree, this is game changing news. That is why it is not down anything
Sentiment: Buy
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A 1 Rating, his highest. He added to it this week. He has a $36 near term price target on the stock!
Sentiment: Strong Buy
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Reuters) - Bank of America Corp (BAC.N) may incur another $4 billion in losses on future repurchases of troubled mortgage securities, as well as up to $3.1 billion in legal losses beyond the amount it has reserved, the bank said in a securities filing on
by ron.wallach •Feb 28, 2013 6:13 PMAlso, people missing the point, this was only $300 Million than what they said last Quarter. That should bring relief to investors. Stock will go up tomorrow. Bank stress tests next week should be a catalyst. It was last time around, with a 10% plus jump last time around.
Sentiment: Strong Buy
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Saying to Buy right here.