Exxon Bid has opened the door for Joint Bid by ExxonMobil, TotalSA and OSH.
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I am pretty sure now that a Three Way Joint deal will be done. TotalSA, ExxonMobil and OSH will share the project else PNG Government will bloc the deal.
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Under OSH & InterOil deal, PNG Government was gaining 20% stake in project which is not part of Exxon deal. Why would PNG government throw the lucrative offer and approve ExxonMobil bid where it has no say at all.
OSH Price at posting:
$7.17 Sentiment: None Disclosure: Held
