'admin' pid='69588' dateline='<a href="tel:1463708 Wrote:[The only rational reason I could see for the Board to recommend this deal would be if they thought/knew the certifications were going to be very low.]
Well, if they think that they sure managed to hide that very well in the CC.. Here is Hession:
when we put Antelope 5 in the ground, we expected to be testing the western flank. That proved actually to be much further out to the west. So very simply, the field is a lot bigger.
The fact of the matter is volumes are trending up and, Evan, [indiscernible] talked about this. The GLJ, their view of the reservoir as we continually drill four, five and six GLJ again and again are being proved to be more correct with respect to the reserves and the nature of the geology that we are dealing with.
ok, then let me know what rational theory you see. If there's 10 T's there and that gets us a cash payment from TOT (while still KEEPING 38% of E/A) of about the same as we get for the whole company in this deal, why would the board recommend it? Maybe I'm naive but I doubt Hession is blatantly pushing only his own agenda. I suspect he truly thinks (maybe incorrectly) that it's the right thing to do. The question would be why does he think that's? And if I'm wrong, and it's a sinister screw job by him, what incentive dies the rest of the board have to agree?