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just heard Bill Shorten will open up the gas fields if Labor...

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happydayz

14,267 Posts.

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23/04/19

11:24

Post #: 38233881
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Originally posted by Antiques Of Woodstock: ↑

The chance of COI becoming a stand alone producer at Mahalo is almost non existent unless COI’s either buys out either/both Santos/APLNG 30% share which although not totally impossible is extremely unlikely – or – works a deal whereby COI takes Mahalo to production kicking back 60% of net production to Santos/APLNG which is equally unlikely.

Mahalo will be brought to production but before that point either we will be bought out of our 40% share – or a deal will be struck whereby we get 'free carried’ to production with our share of the upfront Cap-Ex to get us to that point being accounted for against our share of future production – alternatively we will be stumping up our 40% share of that cost to get us to that point.

I believe it’s too messy for the likes of Santos/APLNG to have COI sitting with 40% of the gas in Mahalo – they were happy to let us take the risks getting it proven up knowing that if we didn’t hit certain set objectives - that the cost that we bore on their behalf would not be refunded to us. We hit/exceeded those objectives and we were refunded.

Moving forward having used COI to take the risks – they will surely want 100% of the future rewards and a deal will be cut – the shape/size of that deal will unfold when the time comes.

All a matter of timing – ‘when' rather than ‘if’ - in my opinion.

As to whether COI will be split down the middle with just Mahalo being sold off or whether the whole company will be taken out – that’s the big question as I see things…

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just heard Bill Shorten will open up the gas fields if Labor wins government in northern Australia and and south east Qld. right good to hear something like that.

COI Price at posting: 29.5¢ Sentiment: Buy Disclosure: Held
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