[quote='SamAdams' pid='21697' dateline='1367323704']
At least the timing of Phil's retirement still confounds me, absent more information. I was hoping that might come today, and there's a scenario where tomorrow makes sense. Given Phil's comments, it is hard to believe he is retiring prior to the deal being announced and while the beauty contest is on. We had a very nice cadence to recent events: confirmation of major Asian interest, dissolution of Petromin, spudding of Elk-3 within weeks, signed JVOAs, BoD meets again, leaks/guesses as to bidders....then Phil retires? That should have come after deal announcement. There are scenarios where it makes sense, but alas we wait. I am digging and hope to understand this better. the only scenario where this makes sense to me is RDS won and Phil doesn't want to be the one to shake thier hands.
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SamAdams -- The RDS scenario could explain it. Frustration with finally conceding O'Neil wouldn't come around and let IOC stay in charge of the operation in a more lucrative way (i.e. with a non-supermajor partner) could explain it. Becoming disgrnutled that the Board chose to expand negotiations with bidders beyong his desire to just sell a portion of E/A (possibly a com[plete buyout or possibly the sale of more assets than just 30% of E/A) could explain it. I agree that the timing likely indicates he left abruptly because he didn't get what he wanted in some way. The upside is that in any of those scenarios it would seem that a major decision has been made and that we should be getting close.