Good post. thanks.
PS Remember that according to the IOC/govm't proposal, the PNG govm't would pay market price[whatever that turns out to be]. Also, Phil had stated that the bidding process had bids that were multiples of pps valuation. If not, how can he possibly explain his statement away to investors?
Yes, I agree completely, Ed; thanks for repeating those details. That is why I consider this to be a win for IOC. Again, I only wish the market agreed with us. In fact I feel even more comfortable with the belief that the government might not be able to afford 50% of E/A. I guess most will be cleared up when the deal is actually finalized.
One other thing bothers me. It's been mentioned by more than one person that the 6 bids that had been recieved, were all rejected. If Phil's statement were true regarding multiple value, I would find it hard to believe that they would all be rejected. I personally believe that a deal is in place and that the govm't is keeping a lid on any release of details. Just a thought.