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Something not discussed - Libtardius Maximus - 11-16-2012
I haven't been able to read all of the threads, so this may have been covered. The question is this...now that IOC has "verbal" approval from PM and NEC formally forthcoming, wouldn't this be the time for someone to attempt a buyout if it were to happen?
Thoughts?
RE: Something not discussed - TxPm - 11-16-2012
This hasn't been discussed & in my personal opinion a buyout won't happen until the final bidder is announced & we receive official NEC approval. I think the official NEC approval lowers the political risk factor even more & I think should we get bought out most likely it would be by one of the current bidders. I would think the bidders would want to see if they won before make a buyout offer
RE: Something not discussed - Palm - 11-16-2012
More at the point of official approval, because at that point the details of the project are known and official. As everyone knows with PNG, the safest you can be is when something is officially approved by proper authorities, and registered. Not always 100% as IOC now well knows, but safest one can be.
RE: Something not discussed - Palm - 11-16-2012
'TxPm' pid='12654' datel Wrote:This hasn't been discussed & in my personal opinion a buyout won't happen until the final bidder is announced & we receive official NEC approval. I think the official NEC approval lowers the political risk factor even more & I think should we get bought out most likely it would be by one of the current bidders. I would think the bidders would want to see if they won before make a buyout offer
Per company officials any active bidder is prohibited from buying IOC shares on the open market until such time they are released from the bidding process. The only exception is that if a non-bidder launches a buyout, IOC can release active bidders from that restriction.
RE: Something not discussed - davidhmtk - 11-16-2012
Agree that written approval could be a buyout spur - A buyer would not want a rival signing a binding contract. Many of the interested parties signed standstill agreements - these probably have a time limit. Anyone know? If I remember accurately, Shell and Total didn't sign.
RE: Something not discussed - Libtardius Maximus - 11-16-2012
It seems to me in the years that I have owned the stock there was always an invisible hand, Collin touched on that in my view with his anonymous quote comment today. But it seems to me to be escalating on two fronts.
1. Short side spinning yarns that have almost come full circle. All that is left is "it's just propane tanks" arguement.
2. Someone wanting IOC to fail so they can assume the resource (we all know who I am referring to). This is the one that seems most likely to me, with number one above acting as cover. if I'm right about this, the invisible hand will reveal itself in a bidding war, which I would personally love to see. They may not start it but would wind up being the aggressor.
I for one hope it happens, if nothing more than to put a baseline on what peers believe to be IOC's true value.
RE: Something not discussed - admin - 11-16-2012
'TxPm' pid='12654' datel Wrote:This hasn't been discussed & in my personal opinion a buyout won't happen until the final bidder is announced & we receive official NEC approval. I think the official NEC approval lowers the political risk factor even more & I think should we get bought out most likely it would be by one of the current bidders. I would think the bidders would want to see if they won before make a buyout offer
Although it's speculating, but it could be cheaper/more attractive, in relative terms, for a bidder to bid for the whole company than paying for a 25-32.5% stake in E/A alone. Added bonus is they would be in control and I'm pretty sure Pet isn't the only one looking at their license areas and counting these possible reefs.
RE: Something not discussed - ebster123 - 11-16-2012
STP, I agree 1000%!!! I said this on Yahoo and was slammed by many. Simole math nd business and I agree 1000%.
RE: Something not discussed - jft310 - 11-16-2012
Never forget the poison pill.