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+--- Thread: Bidding War in the neighborhood (/showthread.php?tid=4934)
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Bidding War in the neighborhood - Tree - 10-23-2013
Yesterday friends, Peter Botten of Oil Search told us of the Bidding War for an IOC Elk/Antelope majority stake.
Good neighbor's are important.
I wonder who will be our neighbor?
Won't it be exciting to see who moves into the neighborhood for the next 30 years?
RE: Bidding War in the neighborhood - jft310 - 10-23-2013
Pickboone states on yahoooooooooo
The chatter is that IOC has an important BOD meeting in PNG this week, XOM deal is very close to closing, and there are bids on the table to buy the rest of PRL 15 over and above XOM's 4.6 Tcf for a new Gulf LNG project.
Sentiment: Strong Buy
RE: Bidding War in the neighborhood - admin - 10-23-2013
Very interesting, and very logical. Japan needs more gas because of the nuclear disaster, China needs more gas because of strong growth and choking cities, Korea needs more gas, etc.
Is it that strange that there would be a bidding war for Asia's best gasfield find of the last decades?
RE: Bidding War in the neighborhood - Palm - 10-23-2013
Good guy that Mr Rogers. I think one of his relatives is on Hession's negotiating team.
“Often when you think you're at the end of something, you're at the beginning of something else.”
― Fred Rogers
RE: Bidding War in the neighborhood - Tree - 10-23-2013
'Palm' pid='30121' datel Wrote:Good guy that Mr Rogers. I think one of his relatives is on Hession's negotiating team. “Often when you think you're at the end of something, you're at the beginning of something else.” ― Fred Rogers
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InterOil has recommenced a competitive bidding process for a majority share in PRL 15. ~ Peter Botten 10/22/13 |
"When I was a boy I would see scary things in the news, my mother would say to me, "Look for helpers. You will always find people helping" ~ Fred Rogers on Pumpers
RE: Bidding War in the neighborhood - Movieguy - 10-23-2013
"Bidding war" sounds great, and it is a term that has been tossed around here aplenty for a long time. I believe this bidding war does exist, but the real question is what is that going to mean for IOC? Lately I've seen figures around $1/mcf used much on this board. Not long ago there were numbers much higher given by knowledgeable people on this board that came out to more like $3/mcf.
Now I realize the whole $/mcf valuation may be old fashioned these days as it now seems likely IOC will get ownership in the LNG plant and various infrastructure and drilling paid for, etc., but in some way the deal has to be valued. Will this bidding war really lead to the lofty valuations that many here believe IOC is entitled to? So "bidding war," sounds great, and of course a bidding war is supposed to mean there is a competitive environment from which the highest price can be gotten, but what we need to know is WHAT IS THAT PRICE?
So tell me we're getting a great price and I'm happy. A bidding war just means the price will be the best we could get, but does not guarantee the price is all that good.
RE: Bidding War in the neighborhood - TxPm - 10-23-2013
Gentleman,
Im going to play devils advocate here and say that I believe most longs believe there is a bidding war and I would be willing to bet behind closed doors even some shorts would admit the possibility. The problem is we have had more than one bidding war now that has been going on for years.
Now I understand we have a new CEO and I believe MH will get something done but I believe the market and even some large longs are now in a "Prove it" mentality which is why we are seeing the stock hover 20pts below where it was right before the XOM exclusivity was announced
I hope MH & Co can wrap a deal up this year bc I fear what will happen if this thing gets dragged on into next year
RE: Bidding War in the neighborhood - Palm - 10-23-2013
Management has stated before that when any deals are done and announced the "unbundled" deal will be "bundled" to an equivalent /mcf price. So to take bits and pieces of what is being "heard" and try and "bundle" them at this point is pretty futile. Too many unknowns. We get what we get; may not be the top notch price but......
“I'm proud of you for the times you came in second, or third, or fourth, but what you did was the best you have ever done”
― Fred Rogers
RE: Bidding War in the neighborhood - johnwgrant - 10-23-2013
If there is a "bidding war" going on, why is the stock price telling us that InterOil will be fortunate to make a so-so deal with Exxon ?!?!
RE: Bidding War in the neighborhood - ArtM72 - 10-23-2013
Bidding war? More like a chess game. Wars are typically much more public conflicts with bright flashes and booms, none of which we are seeing or hearing.
(I'm ignoring the personal and public tragedy as is always done when using this common metaphor ).