11-15-2013, 11:12 PM
- In the event of a deal, we believe IOC and Oil Search, its closest peer, would own similar sized interests in similar LNG projects in PNG. OSH trades $2.22/Mcfe vs. $0.71/Mcfe for IOC. While Oil Search is closer to cash flow, with a Major partner in an LNG project, we believe, following a deal, IOC would become much more similar than current valuations reflect.
Well it appears that if that is the case then the target is not 105, it is closer to 240. Still below Stavros's estimation but not too shabby!
Well it appears that if that is the case then the target is not 105, it is closer to 240. Still below Stavros's estimation but not too shabby!