12-07-2013, 06:04 AM
Yes Palm. I've been stunned a few times in the last couple of days. First, my Exxon source was dead wrong. Kudos to TA on his much better information. Second, the sell-off today is just absurd on so many levels. I'm still digesting the deal but any credible estimate has NAV way above where we are trading. I have high regard for Dr Hession but I believe they came up short in the clarity of the deal. That's not to say I don't like the structure. I think Hession has done a marvelous job of protecting the upside for IOC shareholders. Based on the hints he gave us, I think the final resource number for PRL 15 will be substantially higher than GLJ certification of today. However, the press releases Interoil issues continue to be sub standard and.....if it's my company....I'm looking to address and solve that problem. For goodness sakes, we have hedge funds writing articles about the discrepancy between the IOC and TOT releases and suggesting something sinister.
I notice Pavel does not ascribe any value to the 30% interest in the Gulf LNG plant. That's very substantial to understanding the overall value of this deal. Like everyone, I'm trying to understand the full value and potential of the deal. I hope MS and Westlake will provide further clarity and more logic and reason will prevail.
I notice Pavel does not ascribe any value to the 30% interest in the Gulf LNG plant. That's very substantial to understanding the overall value of this deal. Like everyone, I'm trying to understand the full value and potential of the deal. I hope MS and Westlake will provide further clarity and more logic and reason will prevail.