I understand that as investors we love to have forward visibility but Mr. Chazen has stated repeatedly that the entire strategic business review will not be completed until after the 1st of the year. That said, it seems obvious that only a minority interest (%40) of the middle east will be montized. It is probable that California will be spun off. Beyond those moves, it doesnt seem likley that anything dramatic will occur and they are already priced into the market. I just dont see a reason to hold my breath here. Its a sound fundamental stock with average growth potential and a pretty good dividend yield. It should be played just that way.
I believe that the first stab at the re-organizational plans will be announced at the end of October, during the quarterly conference and not at the beginning of 2014. I believe that the plans were due out in October, so the quarterly conference would be an excellent time to unveil the plans to shareholders.
Gov Brown has been talking lately about being more receptive to oil & gas drilling in the large shale area. The only way California will get their house in order is to go this route. He looks at what the energy industry has done for other states. I do not think that a spin or sale of the California assets is a done deal. There is also the chemical company that can be disposed of and possible drop down of midstream assets into an MLP. OXY has many options and that is why this is taking a while to sort out.