05-23-2013, 09:03 PM
If I were a fund share owner and I found the fund manager sold something that was worth well more than $400 in 2-3 years(monetization of the assets with a CSP) for $150 today I would see he was fired . Fiduciary respondsibility cuts both ways short and long term. Everyone wants a deal and thats a start on proper valuation work(gets those short term fund owners off your back) and then to drill more prospects and with those drilling results we can get a better resource estimate and then can get a Net Present Value for IOC based on the new assets. With this first deal closed and FIDed IOC is worth quite a bit more. Drill several more wells and we can talk takeover then. Or the two spike theory works for me.