05 March 2008

Ex-queeze me?

Premier Danny Williams announced a formal agreement to expand White Rose.


Reported by AOL Money, based on a Canadian Press story dated on March 4, 2008.

Not last December, when the "formal agreement" was announced, sans any mention of acquisition price for the shares. Not a "final and binding agreement', mind you.  A formal one. That must be a contract in white tie and tails.

Or last September, when the telephone deal - the "informal" one solely for campaign purposes? - got dropped in the middle of a speech.

And it certainly wasn't earlier in September when the province approved White Rose expansion.  Note the difference between White Rose and Hibernia South.


Very curious.

Since the companies involved here are publicly traded - that is, unlike PetroNewf - there are some restrictions about making announcements over and over again so it seems a little odd this deal has been announced now two or three times.

Someone should ask Danny for a copy of the "memorandum of understanding, the "formal" agreement and the "final" agreement, and any other agreements signed by the province's oil company.

Oh yes, and while you're at it, see if you can find out the real acquisition price for the White Rose shares.

Hands up anyone who thinks it was more than the $44 million originally announced.