04-19-2013, 02:25 AM
I believe IOC has a plan to take advantage of the artificially low share price. A $500M debt offering will be underwritten by selldown partners and used to buyback shares. With the selldown extending into 237, there will be plenty of cash for lots of drilling. Might as well take advantage of this investment opportunity graciously provided by the shorts. (The $500m is per WA @ IPAA).

