The way I see it

[Libtardius Maximus]

Lots of good info here, thanks all for the posts pro and con.

Taking a few days to ponder all this I see 3 things that could turn this buyout on its head.

1. Phil, no need to state the obvious reasons.

2. Civelli- he knows what is in the hole and stands to be a huge winner.

3. Woody- We have no idea if they were a bidder, however given their offer to OSH last fall they would have been foolish not to. Even if to lowball knowing they wouldn't win. They could offer 3B for IOC taking their place in the SPA, getting 2B back from TOT making the acquistion a 1B deal they claim to be interested in. This would put osh completely over a barrel, losing IOC's terms with TOT and having to comp Civelli on top of everthing else.They could then offer LESS for OSH than they did last fall.

These next 6 weeks could be a wild ride especially the next 2 pre-AGM.

[Stavros]

Mr Maximus:

At 9.9 Tcfe, the payout from TOTAL is $1.717 Billion PLUS $0.517 Billion at FID = $2.234 Billion
At 11.8 Tcfe, the payout is $2.480 Billion PLUS $0.517 Billion = $2.997 Billion

So if there is 11.8 Tcfe (GLJ's High Case which, according to Pinkus is now the Mid Case) then Woody would acquire IOC for a net cost of $0.003 Billion . . . AND own lots of pearls and other trinkets.

Nice deal for $3 Million!

Now you can see why Botten says his deal is good for OSH.