InterOil, ExxonMobil deal facing delays

InterOil, ExxonMobil deal facing delays

InterOil said the Court of Appeal of Yukon on Monday allowed the appeal lodged by Phil Mulacek overturning the Supreme Court of Yukon’s approval of the pending US$2.5 billion ExxonMobil transaction.

Chris Finlayson, chairman of InterOil said, “Despite this disappointing ruling, we’re pleased that ExxonMobil has advised that they remain fully supportive of the transaction as InterOil works through the issues raised by the Court.”

According to InterOil’s statement, the company is continuing discussions with ExxonMobil with respect to extending the outside date.

In addition, InterOil is considering options to file for leave to appeal to the Supreme Court of Canada.

When concluded, the transaction will give ExxonMobil access to InterOil’s resource base, which includes interests in six licenses in Papua New Guinea covering about four million acres, including PRL 15, which includes the Elk-Antelope which is the anchor field for the proposed Papua LNG project.

ExxonMobil earlier also said it aims to work with its co-venturers and the government to evaluate processing of gas from Elk-Antelope field by expanding the PNG LNG project.

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNG Pricing, Trading & Hedging London

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

LNG Pricing, Trading & Hedging Singapore

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

LNG Pricing, Trading & Hedging Houston

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >