12-13-2013, 06:02 AM
'Palm' pid='34177' datel Wrote:The other possibility with the 5.4TCFE. In the CC Hession explains the difference between what Total reported and what IOC did. He states that Total is repoting what they feel THEY will be paying and that is net of the possible selldown of 19.3%. He emphasizes this several times in responding to Evan Calio. So, if this is net of the 19.3% selldown, that leaves Total with 80.7%. The math is: 5.4TCFE/80.7% = 6.6TCFE- The GCA P50 number. Is this possible?
I don't think you are setting this up properly. I think the 19.3% is part of Total's 61.3% pre-PNG, or 31.5% of their share, leaving Total with 42% as indicated in their pr. How they get to $470 million from there, I don't know, much less the $590 million figure.