is it just me....?, page-22

I don’t know anything about Exxon’s cashflow issues, if they have any that is… but looking at the big picture, big oil companies like Exxon are being crowded out out of increasingly scarce juicy projects by National Oil Companies around the world, which is why they will keep an interest in PNG LNG. Yep, it’s a hairy place to deal but there’s lots of discovered reserves, probably helluva lot more to be found, & PNG offers very friendly fiscal terms. I just cant see them pulling the pin, unless oil prices go down the gurglar which means none of the O&G companies will have anywhere to run or hide…