'jft310' pid='38112' datel Wrote:

So using SAMs number we can see a value of just E/A of $5 Billionish.

JFT,

This really should gove over under the other thread, but I will say that at 7 tcf I value the sold and kept portion of PRL 15 at ~3.9B. The media is only speaking of the sold portion, which at 7 tcf I value it at 2.7B. Anyway, this is the wrong location any way.

Best,

Sam

'ArtM72' pid='38113' datel Wrote:

'Putncalls' pid='38102' dateline='<a href="tel:1393486 Wrote:Tree If OSH ended up with PAC LNG's share does that mean that IOC only has 7% of E/A?

sure looks that way to me.  Another damn case of bad PR.  Market opens and shitstorm returns I fear.  Unbelievable.

We need more black coffee.  PacLNG's 23% share was in addition to IOC's share, not part of IOC's share.  IOC/PacLng/IPI owned 100% PRL15 with IOC owning 78% prior to TOT deal.

'ArtM72' pid='38113' dateline='<a href="tel:1393502 Wrote:

'Putncalls' pid='38102' dateline='<a href="tel:1393486 Wrote:Tree If OSH ended up with PAC LNG's share does that mean that IOC only has 7% of E/A?

sure looks that way to me.  Another damn case of bad PR.  Market opens and shitstorm returns I fear.  Unbelievable.

this is seems to be a material event and given the questionable clarity it would make sense for IOC to put out a statement before the open.

'sltibbs' pid='38111' datel Wrote:

Tree,

Sorry, but I am missing something. How do you get TOT at 32.5% net instead of 47.5%? Also, how do you get OSH at 15% if it shows they bought 22.8% gross, which is 17.7% net (22.8%*(1-22.5%))? Thanks.

Best,

Sam

Hey Sam, for others benefit, gross #s are prior to an assumed Gov't back in which take IOC/TOT/OSH down to their net%.  TOT CEO stated CEO was seeking a net 32.5% stake per reports from their Q4 results a couple weeks back.

http://shareholdersunite.com/mybb/showthread.php?tid=5984

'cybersssss' pid='38114' dateline='<a href="tel:1393502 Wrote:Just a quick calculation, but based upon what Oil Search is paying PacLNG , my calculation is 3.1 billion based on 900 million for 23% of E/A. 3.1 billion is IOC's portion of E/A prior to sell down. This does not include upside from additional gas found over 7 TCF.

Cyber- the $900 million that OSH remains the same agreed? So OSH is buying net to them 17.7 percent after the govt buy in or

$900 million divided by 17.7 percent is $5 Billion for all of E/A. IOC ends up with Billions plus a 30 percent ownership

'ArtM72' pid='38129' datel Wrote:(100-61.3-22.8)*(1-.25)= 11.925 Is this why the board has gone quiet?

Hi Art,

Sorry, but you left a 2 out. (100-61.3-22.8)*(1-.225)= 12.32

Best,

Sam

This is a deal between OSH and the shareholders of PacLNG.  The only difference for IOC is perhaps a new read on the value of E/A.  It appears IOC's ownership of the resource is unchanged from yesterday.

I'd love to hear from IOC too, but what can they say?  Maybe that the IPI issue is settled?