The latest article on this buyout is that Talisman contacted Repsol as the oil price keeps plunging and TLM cannot meet its obligations if oil keeps dropping,thats why they are now willing to sell for less.
if you hold on to your shares,you get to collect that dividend for 2 more quarters,and the buyout price.
if you have better things to do and need the $$,sell.
In the WSJ article,it said when oil price start dropping ,TLM contacted Repsol,not Repsol contacted TLM,
it tells me no one else is interested,so be happy with $8,$8 is better than $0
It could be the general market going up ,high tide lifts all boats.
is TLM in any ETF or Indices?
POE.V) continues to reduce risk and keep a portion of the upside potential by farming out projects to partners. This morning they farmed out 51% of the East Jabung production sharing contract (PSC) to Talisman Energy (TLM.T). The transaction will be subject to Indonesian government approval and is expected to close in March 2015.
In exchange for the 51% interest Pan Orient will receieve:
A cash payment of $8 million US
A commitment from Talisman to finance the first $10 million toward the first exploration well
A contingent commitment to fund the first $5 million of an appraisal well if justified
Pan Orient will have the option to acquire 20% of a Talisman project in South Sumata
The East Jabung asset should benefit from the technical expertise of Talisman becoming operators of the project. The project is believed to have the potential for half a billion barrels of oil. Once drilling begins this is expected to be one of the most watched wells in the junior oil space.
No dates have been set yet for drilling the first on shore East Jabung well which was acquired during the financial crisis.
Pan Orient last week sold a 50% interest of a subsidiary company for $42.5 million to Sea Oil Public Co. of Bangkok, Thailand. The subsidiary company is expected to drill 2 appraisal wells and one exploration well in the first quarter of 2015.
The company also has the Sawn Lake project in Alberta, Canada which has recently come on stream as a SAGD heavy oil producer. Sawn Lake started producing bitumen in September and an update is expected any day now.
Assuming the deals close, Pan’s balance sheet will add approx $50 million to $27 million already on the books as of June 2014.
Pan Orient president and chief executive officer Jeff Chisholm said: “Pan Orient has demonstrated significant progress towards the corporate initiative of strengthening the company’s balance sheet and derisking its portfolio of assets, through partial sale or seeking partners. The final goa
yes,it oil rebound,$8 is a joke.
How much did TLM want a few months ago?$15???
itcant be a done deal,it would need shareholder approvals,we have not received any from TLM,
Swift Energy has been independent fo so long,if they want to sell,they could have done in the last oil boom,my guess is their assets may not be so attractive to any potential buyers
3 law firms wil investigate if TLM is selling itself too cheap ,there may be other offers??
Another Canadian oil company who sees strategic advantage ,if they own acreage in nearby area,Marcellus pipeline is valuable,and it can sell parts it does not want -like $300 millions offer from the Aussie co for the assets near Australia,the maturing North Sea assets to the Norwegian,the Vietnam assets to the Chinese or Vietnamese ,I would not be surprised Icahn is working on some alternatives.
a lot of things can happen between now and Mid 2015,we shareholders have not voted yet,
what I would like t o hear is what does Icahn think of this deal,he owns 76 million shares,several funds each own millions of shares,what do they think
Both Canadian Pension and Toronto teacher pension dabble in oil stocks.
if Middle East blows up and Russia cant find money to produce oil,Canada is a pretty safe place north of the border,and the have been building up their infrastructure,their govt is supportive,goods coming into our West Coast can now go up north to be unloaded.
why dont yu just block me then you dont have to read my post.
iT OPENS at 7.47,trading 7.60-7.46 and closed at 7.58,a whopping 283 million shares.
someone is willing to sell into strength and somone is willing to buy,tomorrow there may be more selling.
may be the Chinese,they have NEXEN already.
TLM has some interest in Vietnam coast which will interest the Chinese.
what about the 3 law firms saying TLM is being sold too cheap.
Someone (or someones ) must know something we dont know,they are buying today.
Icahn should be happy he has a buyer for his 76 million shares,just think if there is no Repsol,how much would TLM be trading??