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Msg  5074 of 13357  at  5/19/2010 9:51:27 PM  by

jft310


 In response to msg 5072 by  CommanderCricket
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No reason for an UGH . see below.

It's a timing thing. The company is being punished for no timelines.When they give timelines they get boxed in.
I agree no timelines is better but Mr Market hates uncertainty.Hates European problems also.
The negotiations are going very well. Henry A is gonna get the deals done as he did at EQ Marathon.
Someone today said they were in Hong Kong recently.Three of em .
I assume they are explaining what they expect in the to come bids to bidders.
Those are due some time in June per CC
They will be reviewed after being received,That review will be to select the JV partner.Will take awhile,per CC
The difference between these bids and last springs bids are Henry A.
He is patiently explaining the cost structure and the value, thats a big change from Phils style.See his slides from the Asian Conference.
Phil will accept a reasonable offer. Hes under pressure to do so from many fronts.
Some say Exxon will make a bid.Might try to buy the whole thing.
At least share pipeline cost maybe share some other costs in Gulf province.
Mitsui is paying for all the premininary work, No cash squeeze for IOC.
IOC can not pay for the 2nd drill rigs operation without more funds.
They stated on the CC that that new rig would start drilling in the fourth quarter, So IOC expects cash in the third quarter from a source. Maybe and probably Mitsui,If Mitsui is delayed then IOC is working on a credit facility till they get it all done.
Natixis being conservative without company guidance expects the capex all financing completed for the LNG 2nd quarter of next year.Decisions announced before then on partner and participation.
To move IOC stock price all we need is a final Mitsui deal decision. That cash flow is sufficient for IOC to self fund their own LNG plant.
With IOC cost structure and Henry A who knows what to say, how to say it and how to close these deals its safe to say IOC will get its deals done.
Remember Henry A came from Marathon and they are in the mix. Mitsui wants Chiyoda to build the plants....They are doing the Exxon construction.Those cost bids for the condensate plant are due back in June. They do need the condensate ratios from this horizontal to set the internal design of the modules. Or what type parts to use.
Next news should be we hope a DST from the horizontal late May early June.They will have to core this 1000 foot extension.All takes time
Two drilling sites are ready, Antelope 3 and 4.They are planning on preparing another drilling site outside Antelope based on where the seismics tell em to place it
Three more reefs found on siesmics they think outside Antelope and a dome found inside Antelope field.Some of these fields overlay with Antelope.
The company personnel are pumped. Never been so confidant.
With Henry A its justified.
Hope this helps some with DD.


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Replies
Msg # Subject Author Recs Date Posted
5075 Probably just alot of shorts and daytraders latching onto IOC. They love volatility! fitinvestor 0 5/19/2010 11:25:23 PM
5079 Re: No reason for an UGH . see below. Joenobody06 1 5/20/2010 7:20:37 AM


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