The Attempted Grand Theft of IOC

[admin]

I have a different interpretation. Here is the relevant part of Pet's quote:

I think they only thought they would have to pay for about 7 TCFe

I take that face value: TOT and OSH thought they only had to pay for 7T at the time when they entered into PRL15, but now they've woken up to the real possibility that it could be significantly more (and this whole deal is in part informed by them searching for a way to limit that liability).

I still don't see what's wrong with:

1. My interpretation of what Pet was arguing
2. The intrinsic logic of it

Even if that's not what Pet meant (only he can solve this issue), you shouldn't really call people idiots on the basis of this, least of all Pet.

Perhaps after you've wiped the foam of your mouth you can have another look, who knows. I simply read that TOT and OSH realize they have both have a large contingency payment liability, potentially much larger than what they thought when they entered the deal.

Even if that's not what Pet argued I would still argue it myself. But perhaps I'm the idiot..