monkey spank, they got a 110 million dollar advance. You think PR did not do a DD of its own, or the 4 bidders before they bid? Maybe the company feared a takeover. As soon as the PNG government got wind of the size of the find, they took out a balysong to the throat of IOC and cut themselves in some more. Read the tea leaves, if they had the reserve certified, PNG would want 90 %
And as always, dont drop the soap on the way to your trading terminal.
Apparently 5 Oil companies have made offers they put up cold hard bids and aren't worried about your nonsense.. Everyone except you knows with an LNG plant IOC's assets are proven. And with the Exxon LNG needing more assets and they can't find them that the IOC assets can be sold to Exxon at premium to todays IOC stock price and they would be quite accetive and thus Exxon would save a bundle just buying IOC's assets for their LNG plant. Either way IOC assets get proven. "ALL IS WELL"
Apparently ? IOC assets are proven ? By whom ?
So, what 5 companies ? What were the offers ?
The point is why do these so called facts remain withheld ?
Although I hold shares I certainly would appreciate some facts, not conjecture,
not contingencies, COLD HARD FACTS. This has been going on far to long
and even tho I am up on my position I am close to pulling the trigger.