'jft310' pid='17210' datel Wrote:Some are still confused lets use a timeline so everyone understands.
Feb 28th-Final bids are due for those that signed a Confidentiality Agreement
March 3rd -IOC is scheduled to announce the bidding winner.At that point all Confidentiality Agreements expire they no longer exist.
At that point someone will lose and someone will win.The question is what will the losers do???Very connected persons state they expect offers for all of IOC at that time. Thers are no conforming or nonconforming bids at that time. The bidding process has ended. Some bids may be friendly and others unfriendly. If unfriendly and the offer is not priced right then the poison pill kicks in. At what price does an unfriendly bid turn friendly????
Hope this helps. The winning bidder selection starts the process is not the end. Expect some bidders to team up in some type bid for IOC. Will they succeed???
JFT - I love your enthusiasm and support for InterOil. However, I would be SHOCKED if we heard from InterOil on March 3rd. They begin reviewing the bids the week of March 4th. Later in that week would be very timely if we have an announcement. But, it is more my expectation that the earliest we would have an announcement would be the week of March 11th - 15th (which also happens to be options expiration !). What might be the "delay"? Maybe they need clarification concerning one of the 'options' in a bid package. Maybe they have to ask several bidders (who bid independently) if they would each settle for a 'slice' of the pie (ie - 15% to each of 2 bidders instead of 30% to one bidder). You get the idea - InterOil may need to nail down some issues before announcing the winning bidder or bidders. JMHO.
