03-26-2013, 02:32 AM
'cybersssss' pid='19477' datel Wrote:Agreed JFT... Although once a deal is announced it is still very possible we get a bid for the whole company from another bidder or party that wants it. A deal with PRE will certainly not prevent any big company from buying the whole enchilada. These companies work together on projects all the time to de-risk them further. One can argue that it makes IOC more desired as well. Either way these are very interesting times for IOC. It looks to me as if everything has come to a head. E/A sell down, Triceratops being farmed-in and further delineated, institutional and HF accumulation, and short count at an all time high. Lot of fuel for the fire. Houston we need ignition!
For those following the accounting - I believe this triggers recognition of income, including expense repayments - because the original drilling is expensed, the reimbursement is income. The quarterly #s will be pretty.