'admin' pid='50641' dateline='<a href="tel:1412784 Wrote:Payment to shareholders?? They're running a business that is VERY capital intensive, both the drilling and especially coughing up their part of an LNG plant requires billions. They're nowhere near in a position to make payments to shareholders. Only in the most rosiest scenarios, if the recertification shows that E/A exceeds the GLJ figures and they make a couple of discoveries could they start to think about that, IMHO.
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Sorry. I articulated my point poorly. I was not suggesting that IOC should have taken the cash payment and paid something to shareholders (i.e. Like a dividend). I was saying that IOC could have solicited a buyout offer that would have passed the $500M through to us. If TOT hypothetically valued IOC at 5B they could pay that all at once (in a buyout) or they could give us 500M as part of a transaction, IOC could spend the $500M on operations, and if there are no new discoveries...TOT is now only willing to spend 4.5B to buy us out. That was not management's choice obviously and that is fine, but it is possible that they are spending part if our buyout money on a daily basis. If the wells "hit" it will have been a good decision.