I agrree but I thnk the wrinkle we're missing and what i probably shoudl have clarified is not hte TOT will PAY IOC $1.29 for those 3Ts but that they are WORTH $1.29 from a valuation point of view. TOT doesn't keep the extra 10 Ts - they keep their share. So if E/A values the company at around $100, you then have this potential elepphant, plus triceratops plus an LNG plant etc. So this elephant might be off a couple of years but could add $85 to the value pre discount etc. It supports the valuation not to mention all the other things going on. This could have all been presented better.
1) monetization deal that values the copmany at $95-$100 with upside from current resource estimates
2) Ellephant like new Structure within PRL 15, but outside the E/A fields
3) All othe rpospects
4) All flowing to the LNG project we will have a 30% stake in.