11-27-2012, 12:53 PM
There is plenty of blame to go around for sure. The PNG Govt, maybe Shell, but IOC itself has to shoulder a portion of the blame for the current quandry they find themselves in. I am positive that if there were a SD offer at a very high price on EA, IOC would have hit it already. One of the bigger mistakes was not getting the PA changed and approved when the monetization plan changed, thats a monumental oversight for mgmt of a sophisicated company to make.
My hope is they make the best of this situation as it is, not how they wish it to be, or think it should be. The reality of the asset is only what someone will pay , not what you think they should pay. Its too late to try to "hold out" for a higher price. Its time to fish...enough cutting bait.
My hope is they make the best of this situation as it is, not how they wish it to be, or think it should be. The reality of the asset is only what someone will pay , not what you think they should pay. Its too late to try to "hold out" for a higher price. Its time to fish...enough cutting bait.