12-07-2013, 06:32 AM
To keep it simple so I look at it as IOC is selling half their NET stake or 2.7 Ts for an average $0.94 or a little less if discounted so perhaps $2.3 bln plus the $2.6 bln they retain for almost $5 bln give or take. MH said taking out IPI would be neutral so this gets you closer to the $100. Pavel does a poor job of covering the stock. And yes the Investor Relations dept should have had the sell side better prepped and ready for this. Another confusing PR to start that opened the door for the sell off. Hopefully MS and Westlake will be more supportive. If any new firms are thinking of launching today or Monday would be the day to catch this sell off. Why would Pavel not even mention the LNG other than he excludes it? Lazy. With the monetization set and licenses secure now is the time to start factoring that in. All IMO.