The simple truth is the IPIC Loan was not necessary. It was not the best deal at that time. I am not privy to all the information but what i do know is this, there was a better deal offered by Japan Bank for International Corporation (JBIC). The investigation by OC must go back to that initial deal... we would not have lost our stake in Oil Search under a deal with JBIC. There are pros and cons to what PM is trying to do now. What Id like to know from Treasury and/or finance is what was the net rate of return from PNGs stake in Oil Search pre OPIC deal. Another thing, Interoil has shareholders whose stock market trading activities have come under scrutiny. We must be very careful in how we wheel and deal with this company. One final thing... This is a country. Not a corporate entity.
Posted on: Mon, 31 Mar 2014 02:52:44 +0000
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