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+--- Thread: GCA info from an industry veteran (/showthread.php?tid=5552)
RE: GCA info from an industry veteran - Putncalls - 12-13-2013
I don't understand why i think it's fair deal and everyone else thinks it's a stinker deal?
RE: GCA info from an industry veteran - Palm - 12-13-2013
You're not alone in your thoughts Puts
RE: GCA info from an industry veteran - Palm - 12-13-2013
'jft310' pid='34162' datel Wrote:
'Palm' pid='34159' dateline='<a href="tel:1386865 Wrote:I have a copy of the 8 pages which were posted; nabbed it before it was jetisonedcan you post ?lots of newbies here
Not sure- I sent it to STP. I'll let him decide whether it's OK to post.
RE: GCA info from an industry veteran - jft310 - 12-13-2013
It's a great deal
no caps of the IOC dollars received at two certification times
LNG plant with 30 percent interest
enough money to pay cash to buy into the LNG plant
partner for drilling ahead
4-6 rigs for next year to drill ahead, new talk of 6 rigs
PET could lose 10 pounds
RE: GCA info from an industry veteran - Putncalls - 12-13-2013
I din't see see two different certification times? I just saw the FID when the 2 certification companies produce their report?
RE: GCA info from an industry veteran - jft310 - 12-13-2013
Puts
two certification companies and two possible payment dates per the Hession CC . Or lots of dollar upside
what if the finds communicate ? What if the new find is as large as Hession hopes per the CC we get paid on that find. Get paid
$1.29 per mcf after the certification results
RE: GCA info from an industry veteran - tarulestheday - 12-13-2013
'Putncalls' pid='34163' datel Wrote:I don't understand why i think it's fair deal and everyone else thinks it's a stinker deal?
Just imagine the deal that XOM or RDS must have been offering.
FWIW, I think it is a decent deal with too large of a delayed gratification factor that many longs are unhappy with. Dr. Mike just screwed the longs for several years IMHO. I know from good sources that some of the big holders are beyond furious with the deal. Dr. Mike and IOC have cemented a reputation for screwing the shareholders.
RE: GCA info from an industry veteran - admin - 12-13-2013
Yes, to a considerable agree I can imagine that, Tarules. It's the disconnect of business and stock market logic I've talked about earlier.
From a business perspective, this is almost certainly the best deal that was available, but for stock price impact (less negative, or even positive), perhaps there were better deals available with a more immediate pay-off (Exxon third train).
It has happened. We'll find a new base and there is still plenty of upside left, but most of that has to come from the drill bit, unless some party wants to buy the whole enchilada
RE: GCA info from an industry veteran - admin - 12-13-2013
Adding to my previous post, would we have gotten a 30% stake in an LNG plant with Exxon? I can't tell, but it seems unlikely IOC would have gotten anywhere near that.
So even here there is a trade-off, later but bigger versus sooner and smaller.
RE: GCA info from an industry veteran - Libtardius Maximus - 12-13-2013
I'm not sure how someone can blame Hession and paint as a guy that screws shareholders when he was only involved for 6 months or so. In my view its the previous promises that were made that led to the disappointment. Now if you want to blame hession for the rollout and confusion that led to the selloff along with no JVOA or explanation of the value of 30% that is fair imo. Byker and every BOD member becomes accountable as well.
This was supposed to be 1.29mcf uncapped with a SM that wants the first dibs on everything IOC drills in license area, complete with government blessing and support along with new licenses, 30% ownership. Instead, the market is pricing gas at 60-77 cents which is a compete whiff on what this really is. 2016 FID doesn't help either.