12-18-2013, 05:23 AM
'Tree' pid='34580' datel Wrote:
'trans' pid='34578' datel Wrote:
'Palm' pid='34573' datel Wrote:$248 million; that type of a number is likely after getting lead from management. Is that a PV number or gross Tree? No matter, it's a far cry from some of the lofty numbers being thrown around.
that number doesn't sem right
He equates that $240,000,000 to a 15% annualized return since they made the investment in 2005.
The $240,000,000 may seem low, but it makes sense in the context of how Pavel addressed the value of E/A in the stock price.
The IPI group is being bought out of PRL 15 prior to recertification and will likely need to settle for value based on less than GLJ's #s. The IPI guys will not receive compensation for the LNG stake and any upside in PRL15 as that has been shown to be presently 'valueless'.
The irony is that the LNG stake and PRL15 upside is where the value to IOC shareholders resides.