Newfoundland and Labrador Premier Danny Williams says talks resuming Monday between the province and the Hebron Oil Consortium are at a sensitive stage.

Negotiators for the four oil companies with stakes in the Hebron oilfield and the province returned to the bargaining table recently to get the offshore oil megaproject back on track after a 16-month stalemate, but Williams only confirmed this late last week.

Williams, who spoke at the Canadian Auto Workers convention in St. John's on the weekend, was guarded in his assessment of the negotiations, adding that a lot of effort had gone into restarting them.

Probably the easiest thing to say is … I think the parties have clearly identified their positions and that's where we are now," Williams said, "at kind of, for want of a better term, a 'delicate stage.'"

Williams said an agreement could be reached at any time, and even though he's not at the table himself, he has a close eye on what's happening and could join the group at any time.

"We have our negotiator at the table, but I'm also very intricately involved and at the right time, if it's necessary for me to get to the table directly, if that will conclude it, I will," Williams said. "And if not, and it can be wrapped up based on my instruction and direction, then I'm quite comfortable with that as well."

Williams said the oil companies have altered their fiscal demands since last spring, but wouldn't say specifically what that meant or what a final deal may include.

The province and the oil companies shelved the Hebron deal in April 2006, after they could not agree on royalties that would be paid to the province.

Williams was demanding an ownership stake in the project, and the oil companies said that was a pivotal factor that led to the decision to put negotiations on hold.

Chevron Canada, with a 28 per cent stake in Hebron, is the designated operator of Hebron. ExxonMobil Canada has, at 37.9 per cent, the greatest ownership stake. Petro-Canada and Norsk Hydro Canada Oil & Gas are the remaining partners.