Thanks Jo even if that is negative news. The article shows just...

Thanks Jo even if that is negative news. The article shows just how hell-bent the PNG cabinet is to grab any petroleum or gas licence they can.
They have had one notable success in the past when they took over the Ok Tedi mine for no compensation whatsoever. The shareholders went to arbitration of course but PNG won on a technicality and the holders lost everything. But this time around they are up against Repsol a world-class company and will find them a much tougher opponent. Apart from that PNG has never been given value in the Horizon share price. Typically negative news on WLNG leads to short term selling but then the SP bounces back.