Umshedi , Is this what you were referring to re:PNG....It might...

Umshedi , Is this what you were referring to re:PNG....It might explain the recent shareprice weakness....the Ann Report was also uninspiring to say the least (cut & paste). A shame as everyone thought Chandler was a change agent but I now hear he has taken a passive investment decision.

Govt warns InterOil Ltd
THE Government has warned that InterOil Limited, the developer of Papua New Guinea?s second liquefied natural gas project that it was not carrying out the project as agreed to in the Project Agreement. Minister for Petroleum and Energy William Duma yesterday issued the warning to InterOil Limited and its associate company, Liquid Niugini Gas Limited, the developer of the LNG project in the Gulf Province. In a press release, Minister said: ?LNGL (Liquid Niugini Gas Limited) was not proceeding with the project which was agreed to between the State and the LNGL in the Project Agreement on 23 December 2009. ?LNGL continues to misunderstand fundamentally the nature of the contractual obligations that it has under the Project Agreement, and is moving closer to repudiatory breach of the Project Agreement by proceeding with the Gulf Project. ?At this point, the State will have no option but to accept that breach and seriously consider terminating the Project Agreement.?
Mr. Duma said. He is to meet with the InterOil officials in the next few days to iron out the matter. [PNG Post-Courier]