'Getitrt2' pid='73734' datel Wrote:I also do not like the "Aussie" component, for either the OSH stock or CVR, but management has the argument that OSH stock provides LNG project upside (which I discount the value of now). I would like to see a higher offer from Exxon, or Total directly, resolved before the vote. A "no" vote might eliminate some incentive for a higher resolution on the part of Exxon or Total before then.
Getit - I agree and acknowlege the one thing the OSH offer has that XOM or TOT doesn't is the ability to participate in a material manner in the upside of PNG gas reserves' development. But when I think of that my mind immediately goes to how that participation would be deleveraged by 90% from where we are now. Then I bigin to think of the baggage that would come with Oil Search shares. Knowing what I do now about Botten there is just no way in hell I could be invested in a company run by that scoundrel.
Frankly I'm not sure if I'd vote yes to any offer from XOM to buy IOC as I still believe there exists scenarios for a thriving independent IOC. We'll see, but if XOM should by chance effectively meet the conditions set forth by Mulacek as to what he wants for a buyout I'm certain IOC would be history.