06-04-2016, 03:27 PM
IMHO, if the deal goes through there is a very high probability that:
1. A-7 will not be drilled
2. Resource Certification will be rigged by TOTAL and OSH
3. CVR will be near worthless
If we Vote NO to the deal, we will get an appropriate value.
+ 10 shares of OSH per share of IOC
+ $8.00 per Tcfe for E/A Resource above 6.2 Tcfe
+ Floor of $30 per CVR (equivalent to at least 10 Tcfe)
AND ... The Resource Certification would have to be carried out legitimately by IOC and TOTAL after drilling A-7 because all eyes (SEC; Courts; Institutions) would be looking at the process and the results
1. A-7 will not be drilled
2. Resource Certification will be rigged by TOTAL and OSH
3. CVR will be near worthless
If we Vote NO to the deal, we will get an appropriate value.
+ 10 shares of OSH per share of IOC
+ $8.00 per Tcfe for E/A Resource above 6.2 Tcfe
+ Floor of $30 per CVR (equivalent to at least 10 Tcfe)
AND ... The Resource Certification would have to be carried out legitimately by IOC and TOTAL after drilling A-7 because all eyes (SEC; Courts; Institutions) would be looking at the process and the results
Drivel Maven with Personality