I agree with total being over a barrel. Osh already was the benefactor of the tranny but if xom wants it total is screwed.
One thing I learned about XOM from 3 years ago. They are very tight lipped about acquisitions. I am surprised that many seem to think the offer is tied to XOM. However if one looks back at the language in exclusive negotiations of 2013 it is a match. I was doubtful of the rumor that they offered 35 a share for the above reason. All that was written by osh friendly media was "it is understood". By who? XOM did not state as this. It appears to me this could come down to a bidding war between total and Exxon with osh getting a revisit from woodside when they get knocked out and stock price falters. I am keeping my fingers crossed.
Pay close attention to second and third points listed as FACT. They all know how much gas is in place with the exception of A7. Any guesses on who doesn't know? If you guessed shareholders you win a chance to go for what is behind door number 2 aka the CVR.
I do not want OSH shares should this disaster of a deal be voted down I will accept shares in total but not on a one for one basis. Start with 1.5 tot for IOC and bag the CVR.
Thanks for this message Iluvioc. A stand has to be taken by retail holders that saw the potential and understand the value. After all this time to be told the upside is in OSH stock makes me want to vomit. By now everybody should understand OSH has to have this deal to remain viable and PNG pols need this deal to be re-elected. Fine by me. Just pay me now instead of later.
Shareholders are being silenced while botton does his North American road show. Hession is rumored to be in USA as well. Phil files to stop AGM and the pps is getting a workout. There are some powerful forces at play here just behind the curtain.
I am no fan of Phil however I disagree with your view of what motivates him. Phil's motivation is money and he believes the company is being sold far short of its value in a down LNG market. I am going to wait a bit longer before choosing between white or blue. How kind of IOC to do a deal when time is so short. It should be a very interesting AGM
There have been two transformational deals under Hession regime. The first one he hopped on a plane and the stock was halted. The second he has pr released at 6:39p eastern and holds a cc 20 minutes later and hopes nobody asks tough questions. For 2.5 years we have been hearing about upside. Now we get a deal where shareholders are asked to accept a deal at 44 a share and wait another year for the upside. We all know Hession get a huge bonus for this deal, is he willing to wait a year for it along with shareholders? Probably not since he took a 3M discovery bonus for TBR then gave it away and stiffed shareholders. Remember he also used 41M of shareholder money and bought shares at 57. How did that work out? Hession does not have shareholder best interest in mind with this deal. I say kill it.
Why did IOC drill bobcat raptor and triceratops and pay Hession a 3M discovery bonus and then give it away for free. Wahoo and its dry hole I understand. But this makes no sense. If the response is they would lose their licences they lost them anyway. The only rationale I can come up with was total went along knowing it would bleed IOC dry. And it did.
With this volume it wouldn't be too difficult for someone to slip in and acquire 20 percent of IOC and go hostile. Then maybe we can get OSH to pony up something for TBR.
The fat lady has yet to sing but she's clearing her throat.