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Gulf Landowners call for help to stop sale of share at Inter Oil

Despite the Government applauding the sale of 36.5 per cent share from Inter Oil to ExxonMobil, a Gulf landowner is calling for help to stop the sale.

Chairman of Gulf Elk-Antelope Bluff Landowner Association, Tom Toutore, said numerous attempts for the Government to consider equal bidding by resource owners failed after InterOil and the Government declined the request.

The shares include assets in the Elk and Antelope project areas, Bobcat, Rabtor, Wahoo and Wildcat all in Gulf Province.

Yesterday, an outspoken Chairman of Gulf Elk-Antelope Bluff Landowner Association, Tom Toutore, said landowners were not given a chance in the bidding process. Chairman Toutaore says Gulf people must not be silent over this matter.

He called for help, and believes there is a way out for a better decision on the selling of the shares.

However in a statement released yesterday by Petroleum and Energy Minister, Nixon Duban, the Minister said although there are issues with competition, the Government is comfortable with its participation of 22. 5 per cent equity under the Oil and Gas Act.

“As a government we have no issues over independent commercial transactions that are geared towards cushioning current market conditions and associated trends. Acquisitions, mergers and amalgamations are normal business practices and we stand ready as a government to work with all our investment partners,” said Minister Duban.

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