[quote='admin' pid='69780' dateline='1463765660']
["Stavros - Can't wrap my brain around why any shareholder would vote for this deal . When certification (with A 7) should get us near the 2 billion dollar figure, why would our pathetic bods even consider 2.2 billion for ALL of our great assets. Just mind boggling to me. Just simply "nutso"]
But it isn't. If certification including A7 does indeed "get us near the 2 billion dollar figure" under the old Total certification payment it will also produce substantial upside under the new OilSearch payment ($6.05 per share for every Tcfe above 6.2Tcfe).
I'm not jumping for joy, but it isn't that bad either.
*****
But compare the actual numbers. $2B from TOT under the old deal still leaves us with our remaining chunk of E/A. If you run the pro rata numbers, than might be worth another $1.7B. That's a total of $3.7B...or $74 per share...just for E/A. No way the sale to OSH gets us anywhere near that.