Yep Tonka, IOC recently fooled Total now Oil Search. Tonka , your the smartest guy in the room. Problem is, your the only guy in the room.
Buy out at $85.00? I don't think so. The $85 could be an offer for part of IOC. 2 reasons IMHO this is not a buy out offer. 1 the company is not sure at this point the total value of the company. Off the record they are extremely bullish regarding their properties and believe their wells will be prolific. 2 the buyer does not know the total value of the company. Should not buy something that you don't know the worth and should not sell something that you don't know the worth. There will be a time when those issues will be known and then, Katy by the door!
Things are fine. Stars are lining up nicely. Take your best case scenario. Timing is the only issue. IMHO,I think things start sooner than later.
Re valence is in the eye of the beholder. Share Holders Unite has a section dedicated to IOC. Several longs got tired of the short BS here on Yahoo and went to SHU so they could discuss IOC with out the distraction of these idiots. As you can see by iocdonkeyboy response to your inquiry, do I need to explain further? BTW this guy has multiple IDs and is here just to clutter up the message board. SHU is a private forum that does not allow those people. Of course the bashers cry about not being allowed, boo hoo. If you want serious IOC discussion, go there.
This first deal with TOT is a primer. Need to get things moving. Long over do. TOT knows there is gas there other wise they would not have sat down and negotiated. Of course they need to confirm regardless what 3 world class companies have said was there. Both IOC and TOT get most of what they want. TOT wants to fast track itself into the PNG energy play and IOC is the perfect vehicle. IOC needed a world class partner, outlet for it's gas, participation in the LNG plant, cash to drill and develope it's resources. Now that the ship is sailing it will be hard to stop.
I like what I see with IOC. 3 different outside parties confirm a massive NG find. I talk, I come to an agreement with IOC. I'm spending billions. Guess what? I want my team to verify the find. Is that unreasonable? I expect confirmation but my shareholders need confirmation. All part of the process.