waiting game from here on

Hmm looks like Oktoberfest will now coincide with MEO-vember (rhmyes with Movember) !!

I am more inclined to believe that its been a very tight race, perhaps a 2 horse race from here on, Chevy or Woodie & a photo finish is likely in sight.

Both parties, r keen to lock in 3rd party gas for their respective LNG trains at Pluto & Wheatstone.

Now, its fairly common knowledge (& refer my earlier posts on MEO), that WPL have been engaged in 3rd party dialogue with Apache & Hess for securing gas (also see releases on their website on talks with Apache in June-July). The article below is the first time, I've heard Chevron come out & say that, they too were looking for 3rd party gas suppliers!! What does that mean, whether its 50:50 or 90:10 for either of the 2 top guns bidding for Artemis. I dont know, hence the wait.

However, WPL release their quarterly results on Friday & one can sense that Don Volte will b drumming up Pluto's completion rate, as has been the norm so far. Think Pluto was 72% complete end of July qtr & could b nearing 78% now, with 100% completion due by late 2010. So WPL are desperate to lock in future gas supply.

In their presentations, MEO have referred to photo's from WPL's presentation esp. the one's showing LNG modules for their TSMP. So once again, we wait till mid nxt month for the AGM.

It quite amusing, b'coz the Director's options come into play, so perhaps they want shareholders to vote Yes or No on some key performance related issues or other agenda like, should the farminee make a bid for their 70% interest altogether. Personally, I don't see the logic in Chev or WPL piggy-backing small cap explorers. IMO, juniors could b paid outright for their interest & probably use the capital on other developments.

Anyway, just my thoughts, keep an eye out for Don's preso on friday.

Here's that article on Chevron seeking 3rd party gas for Wheatstone.