".Easy to do playing volleyball with same small trades between two or more corrupt players, and in particular during these very low volume days as today itself...Just go back and forth with the same 100 shares seems darn easy"
Gah, I really do miss you idiots sometimes.
"bonk an offshore cvreep"
I'm the "cvreep" andrwlp aka ezdzit60 aka lovesquirt1? Not that there is anything wrong with cyberstalking German and Thai shemales on the net but man don't use your Yahoo ID that allows people to ID you so easily.
You lying criminal SEC 1934 Act-violating POS! GTH!
Getit found out about the distortion lessons I've been giving you. I'm not sure how but I saw and angry old white dude going through my rubbish bin last week so he probably found my lecture notes.
See you at Tilson's pot luck on Saturday. I'm bringing burbot sashimi. I think you're supposed to bring some Peking duck.
Geesh. Give it up Kenny. Exxon has at least $40B in cash equiv on hand already. This is nothing more than capital structure optimization and locking in low rates and credit spreads.
XOM could buy IOC but why be an idiot and claim this is linked to IOC? XOM could use 10% of its cash on hand or one month's cash flow to buy IOC.
He left the clubhouse at 7pm last night to get Slim Jims and smokes but he didn't come back. The Feds have been watching the treehouse all week so maybe they picked him up.
" as OSH acquisition is based upon at least 7 tcf of gas"
This is rubbish. It just means OSH won't pay anything else unless there is more than 7 tcf. It does not mean that is their estimate. I will pay you $1 to walk down the street, and $100K if you can run 10 miles in 2 minutes. Doesn't mean I think you can do it (although if Coolaid showed up with his burbots or Kenny walked out in a thong I'll bet you'd be runnin' plenty quick).
Total estimated 5.4 TCF. It is in their press release. OSH in their presentation noted that someone else (GCA) had estimated 7 tcf, but their estimate is 5.3 Tcf. It's on page 22 of their presentation and is unambiguous:
"Gross Elk/Antelope 2C contingent resources estimated by Oil Search at approximately 5.3 tcf of raw gas inc 75 mmbbl condensate, with significant exploration upside potential in PRL 15"
Total and OSH are at 5.3-5.4 Tcf as their current estimate. These seem to be the facts, no? They would be delighted with more and hope for more, but unless you think they are lying those are the numbers.
Keep it real Jdeo.
I see no obvious tax advantages Raiseyou.
What is interesting now is that while OSH is a partner of Total in other licenses, OSH could be at odds with Total now from a strategic standpoint:
For OSH (and Exxon) the absolute highest return on investment / maximum NPV is a train 3 and 4 on the PNG LNG project - cheaper, faster, lower risk = higher NPV. That is at odds with Total who is out in the cold on PNG LNG.
A Machiavellian view of the OSH/Civelli action is that OSH buys the IPI interest to kill off Total or extract concessions from them. Killing off Total puts OSH and Exxon in the drivers seat with IOC in a corner with no option whatsoever other than into the arms of Total and OSH (the latter being a quasi-SOE of the PNG Government).
IT could be much more benign than that. My speculation at the time of the Total deal was that Total either wanted to reserve a piece for OSH (potentially and potentially swap in gas assets from the existing Total/OSH partner PPLs), or for another entity altogether.
IMHO IOC needs to pull out every stop to close Total. If the deal collapses I think the stock would follow. With Exxon and OSH ready to feast on the corpse and secure E/A for their PNG LNG endeavors.
IOC's cryptic PR doesn't help much. People may fear the worst and the burbots could have a field day.
Interesting cardealer. We can only speculate of course. What we know is that the Total deal can't move ahead as advertised (i.e. the condition precedent of IOC taking out IPI). We are in the dark.
It seems a bit that OSH is effectively a quasi SOE now (State Owned Enterprise like in China).
It would certainly make business sense for OSH and Exxon to take it all as they can move to trains 3 and 4 on their project quicker.
I find the situation impossible to analyze in the dark. Is the Total deal now in complete disarray or is this the final pin in it? Who knows.
Expecting selfless rationality out of the Papua New Guinea government is a dangerous bet. My jaded view of PNG is that with the potential for regime change at the end of this year (the 30-month no-confidence period expiring) it's all about securing position when the PNG LNG dollars start flowing. In such a corrupt kleptocracy I really think everyone's motivation is to funnel as much of that cash into their personal pockets as possible. Everyone will want a taste.
IOC needs to consummate the deal with a big kid right away (Total, Exxon, or whoever). Partnering with OSH is great because it plays into the government's corrupt greed - OSH will start paying dividends to the government before long so what is good for OSH is good for the pocketbooks of the kleptocracy (all things being equal).
I am Gobsmacked (Hi Tree) that the ownership percentage and deal amendments couldn't be worked out that the same time. We seem to be back in the dark.
Like I said before IOC may soon become boring - just another E&P company that the market prices properly. What fun is that? We can at least pray that Mulacek starts another company.
"You twist and shout your twists to hills. "
I don't know what the frack you're trying to communicate here but that sounds kinda fun.
Kenny you fool this is the verbatim quote from page 22:
"Gross Elk/Antelope 2C contingent resources estimated by Oil Search at approximately 5.3 tcf..."
See the part that says "estimated by Oil Search" ?
You do understand that Oil Search is not GCA, right?
Wow you are dumb.