07-24-2012, 12:00 AM
Well, Value, I'm not saying there is no risk there, but if it was a serious risk, I can't somehow imagine Chandler buying 15% of the company. He could just as well have waited for the election outcome, and he's likely to be better informed about it than any of us.
If one assumes that Duma is entirely motivated by letting Shell have some of IOC's assets on the cheap than, yes, there is a danger. However, I'm not so sure about that. Chandler would have known that and wait for the election result to make sure.
It's also possible Duma was simply fed up with IOC not making more progress, and that could have been triggered by lack of financing for EWC and/or Flex because of lack of bankable offtakes.
If the latter is the case, then we have little to worry about, politically (as long as there is no Chavista emerging), and that is consistent with Chandler buying so much BEFORE the election result
If one assumes that Duma is entirely motivated by letting Shell have some of IOC's assets on the cheap than, yes, there is a danger. However, I'm not so sure about that. Chandler would have known that and wait for the election result to make sure.
It's also possible Duma was simply fed up with IOC not making more progress, and that could have been triggered by lack of financing for EWC and/or Flex because of lack of bankable offtakes.
If the latter is the case, then we have little to worry about, politically (as long as there is no Chavista emerging), and that is consistent with Chandler buying so much BEFORE the election result