EOG has monetized their assets and they are a $44 Billion dollar market cap , their TCFE is 10.8 . True IOC will only own 30 percent afterthought a Total closes . But what lies below at Wahoo and a Triceratops etc.

'jft310' pid='37047' datel Wrote:

EOG has monetized their assets and they are a $44 Billion dollar market cap , their TCFE is 10.8 . True IOC will only own 30 percent afterthought a Total closes . But what lies below at Wahoo and a Triceratops etc.

After reading Badiali's report on IOC, I am astonished how much his thinking reflects yours.

'jft310' pid='37077' datel Wrote:Stole that from Matt

You're a man!  And, what you point out is extremely relevant in how we should view IOC from a valuation perspective.

Heres the relevancy . Today IOC owns 58 percent . They will buy out the minority interest before total buys in and before the govt ops in . Therefore soon IOC will own 100 percent of  PRL 15 for a limited window . If monetized like EOG the amount of assets  thst reservoir  engineers state IOC has are worth $44 Billion.

So  exactly what is IOC doing now ?Thay are trying to prove out even more assets and monetize what they already own. So after monetization with cash flow with no more assets the IOC portion is worth more than $12 billion . If I know this and can figure this out then Chandler, Wells Fargo , Civelli etc understand all of this it fully explains why they have not sold and why they want to drill ahead and find more assets and to stick around until the current assets are monetized. It also explains the deep interest that Total has and why Oil Sesrch, Santos , and Woodside are banging on Interoils door.

So  $44 billion times 30 percent is $12.8 Billion. The current market cap is $2.5 Billion so the upside is 5 times the current price with the current asset base with many more assets to prove out.