05-20-2016, 08:22 PM
We also have to look at where we likely would be (realistically) w/o any deal:
1: Cash burning machine that would run out of cash probably before Certification
2: Because of above pps drops to ? 20s?
3: Also because of above we likely see an equity dilute offering
4: Because of above JV progress is slowed down more
5: IOC would always be the weakest
Not jumping up and down with joy but we now would be part of an full blown operating company creating cash, paying dividends, protected-preferred sovereign PNG company. Those pushing that we must have 12, 13, 14, 15 Ts, many or most will be counting that you were right.
The 66% is of votes cast, not outstanding shares.
Best now is that they keep on proving things up to max
With Total buying chunk of PRL15 from OSH they likely have buyer(s) for 15-20% lined up or close to it. Japan? SK? China? Exxon?
Micah comment about announcement prob delayed because of this; when will that come now?
Will be interesting to see what analysts have to say.
1: Cash burning machine that would run out of cash probably before Certification
2: Because of above pps drops to ? 20s?
3: Also because of above we likely see an equity dilute offering
4: Because of above JV progress is slowed down more
5: IOC would always be the weakest
Not jumping up and down with joy but we now would be part of an full blown operating company creating cash, paying dividends, protected-preferred sovereign PNG company. Those pushing that we must have 12, 13, 14, 15 Ts, many or most will be counting that you were right.
The 66% is of votes cast, not outstanding shares.
Best now is that they keep on proving things up to max
With Total buying chunk of PRL15 from OSH they likely have buyer(s) for 15-20% lined up or close to it. Japan? SK? China? Exxon?
Micah comment about announcement prob delayed because of this; when will that come now?
Will be interesting to see what analysts have to say.