'Kaliboo' pid='81064' datel Wrote:
'2126' pid='81022' datel Wrote:To make the last entry a liltte clearer:
The Elk/Antelope appraisal process is completed and the final numbers were presented to ExxonMobil and Total. There were, presumably, two independent appraisals, from which an average resource number was developed. That number was apparently approximately 6.91 Tcfe, which provided for a contingent resource payment for approximately .71 Tcfe at approximately $7.07/Tcfe for a total payment of $5.02/CRP or EVR [or original IOC share]. Thus, for every share of IOC that one held on the sale of IOC to EOM, one will now be paid $5.02 [actually $5.015525 per Interoil share]. This money will be deposited in your individual brokerage account if your IOC shares were held in street name. If you held your shares in your own name, I believe that a check will be sent directly to the name and address that you have on file with Computershare [which would have been taken from the original IOC stock transfer book]. This will be the final transaction regarding IOC shares, unless you dissented from the vote. If you did dissent and did not then accept the first dissent offer [which was the exact same offer as the original], then you will have to wait for the court process to be completed. My opinion, however, is that the court will not provide for an additional independent appraisal, but will rather accept the two company-funded independent appraisals as a 'fair market value' for the IOC resources. The court may or may not request additional input regarding other contingent assets of IOC [value of other fields, seismic data, etc. etc.], but I do not believe they will change the IOC share value much from the $50 that this CRP puts as a final value on each IOC share in the Exxon deal [$45 in EOM shares and $5 in cash for the CRP/EVR].
It has been a painful and sad roller coaster ride which turned out to be an extreme and unwanted lesson in corporate greed and malfeasance. The only bright spot in this entire sordid affair has been sharing thoughts and hearing expert insights from the many people on this forum. Though I never met any of you in person, please know that I have valued all of your postings and feel much enriched by sharing this forum with all of you. Perhaps we'll meet someday and have a drink and reminisce about that time when we were all--too briefly--good friends on ShareholdersUnite. Thanks to all and the best of luck in what ever the future may bring for you.
2126 and all, I second that emotion above. Well said! Lot's of great people and lots of very informative/interesting discussion.
The CRP came in at the highest end of what I thought was possible, so I'll accept that......when I get it. I expected to receive zero OR maybe the Limited Edition InterOil Commemorative Christmas Ornament Collection that I proposed. XOM didn't bite on that, but Xmas is still several weeks off. Maybe they will surprise us all. All humor aside, I'm glad this is about over. However, I have yet to receive any payment in our two family accounts at Fidelity. One was a taxable brokerage account, the other was a 401K account. We dissented in both cases and then accepted the all cash + CRP offer. Last time it took an extra ~2+ weeks to get paid compared to the rest. So a Q4 payment for me is about what I predicted. I'll have to bug Fidelity to make sure they don't add an additional week to this like they did last time.
As did we, the check came today in the mail, be careful it looked like junk mail, wouldn't that be just our luck to throw it away and try and get another one