07-22-2016, 11:23 PM
My two cents, the bidding is far from over. I don't believe for a minute that TOT is out. We were lead to believe XOM was out after the Oil Search bid and this was not the case. The SM's are playing high stakes poker. IOC is a juicy whake carcass floating in the waters off PNG. There have only been two sharks feeding and regarding the TCFs, we only see the body above the surface but there is more underneath and the Sharks have a better view (and have seen from below/data room) than we do from above. I suspect we will see more feeding before this carcass is gone. Time will tell...