Alaska Natural Gas Pipeline Message Board

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Gold/Mining/Energy : Alaska Natural Gas Pipeline

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To: Snowshoe who wrote (390)	4/22/2008 6:17:29 PM
From: Snowshoe	of 570

Exxon says to appeal Point Thomson rejection __________________________________ reuters.com Tue Apr 22, 2008 6:13pm EDT NEW YORK, April 22 (Reuters) - Exxon Mobil Corp (XOM.N: Quote, Profile, Research) on Tuesday said it would appeal Alaska's rejection of its plan for the giant Point Thomson natural gas field on the state's North Slope. The Alaska Department of Natural Resources (DNR) said in its ruling that Exxon's failure to develop the field under 22 previously submitted development plans compromised the credibility of its latest proposal. Exxon spokeswoman Margaret Ross said in a statement that the company believes the DNR "has no legal basis to terminate the unit and doing so will lead to further court appeals, which will take an indeterminate number of years to resolve." She said the company will pursue all alternatives to protect its rights to develop Point Thomson. (Reporting by Michael Erman; editing by Carol Bishopric)

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