Agree Tree; this is way too much of many many rehashes of things on Yazoo; especially the Mitsui agreements. Agree also on the $6.3 million; that was an option payment. Might add that the Cove deal is not a good comp. That bidding was for an 8.5% share of that deal. Shell has indicated that they had planned on buying that 8.5% and then going after Anadarko's chunk. Now why would they do that? Because they know that first taking that small bite at that price gives them a bargaining chip for Anadarko's piece. Standard stuff. Now they are talking about still pursuing the Anadarko piece; let's see how that goes. Bet it will go for more of a premium. Lots of things have changed the whole world of NG/LNG in the last few years. What once was a nuicense by-product is now a highly valued commodity. Using historic transactions is not as applicable in a quickly changing industry. If this market were anywhere close to being mature, we wouldn't have the great disparity in pricing between Europe, Asia and the US. I'd rather look at premiums being paid on majority interests or total buyouts in tar sands, shale gas, etc and think how much more valuable IOC's reservoir's are. To argue whether IOC might be worth $185, $200, $300 etc at this point is much more than I'm interested in doing. I'll take them all. Done enough work on all this over the last 4 years to be very content. And it appears ubers have been much more right than wrong due to the fact that we've invested this time. Nothing will make me wobble at this point and current events are far more valuable in this industry than something that happened even 5 years ago.
'admin' pid='7418' dateline='<a href="tel:1343528 Wrote:It's getting a little confusing with all these quotes within quotes, folks..
Yep WAY too Yazooish.