What if inciderr is right? What to do?

[tarulestheday]

I am continuing to hear a steady stream of positive chatter after over a month of silence. This has lead me to add more ITM calls. This time I have been buying a ladder of May ITM calls. I don't think DITM calls are risky. I have been buying the May $60s and $70s and continue to hold very DITM LEAPS.

[jft310]

I may be wrong but I agree with Taru. In the money calls in May seem like a good risk reward today.

[CAC]

I am continuing to hear a steady stream of positive chatter after over a month of silence. This has lead me to add more ITM calls. This time I have been buying a ladder of May ITM calls. I don't think DITM calls are risky. I have been buying the May $60s and $70s and continue to hold very DITM LEAPS.

============

I like the DITM leaps, and was looking at the May's as well, but now I wonder about the timing question with a mention of the bidder possibly requiring a new entity as a condition precedent, and an indication by O'Neil that legislation (maybe in September?) is contemplated to accomplish it. Will anybody in PNG be empowered to sign the deal between now and the third Friday in May?

[jft310]

Petromin still exists and can sign. Josh K is gone. Petromin signed the deal with the Japanese. The new legislation if Sept would formally create the new entities thats true. BUT today things go on just with out Josh K.

[CAC]

Petromin still exists and can sign. Josh K is gone. Petromin signed the deal with the Japanese. The new legislation if Sept would formally create the new entities thats true. BUT today things go on just with out Josh K.

================

I think I asked my question imprecisely.  Instead of asking whether PNG would be legally able to sign a deal before the new entity was in place, I should have asked whether the bidder (who may be the one demanding the change) would be willing to sign it with the lame-duck Petromin.  It takes two to tango. 

On the other hand, this speculation is all borne from a comment by Inciderr...and Inciderr seemed to believe something would be done in April...so he/she apparently doesn't forsee any delay by the bidder.  

[jft310]

I go back to Phil's comments .In 30-60 days we will know more. Thats if it holds the end of April it appears. I would imagine O'Neil is antsy to get this done. A push by the PM couldn't hurt.

[jft310]

When will the games stop?? Not until we get news and the stock moves and they split the stock. If you didn't do my idea yesterday well why not today.?? Will they try again well yes they will. The bottom is clearly $70-71 in my opinion. FWIW.