Chandler buying more

[jft310]

Observation with Chandler and Paulson in the loop around $90 that should cause a short squeeze

[petrengr1]

CF, no math. It's showing the nr of shares and the pps he bought them at. The 7 million amounts are the total shares he now owns after each buy. The real math is that he is just over 16% ownership now. He made these purchases last week on May 16 and May 17. Very interesting. Think about the recent corp resolutions IOC enacted. Will be interesting to see if he continues and approaches the next key level of 20% ownership.

Please remind me what is the significance of a shareholder owning more than 15% of the outstanding shares. Thanks.

[Gator]

He bought an additional 134,000 yesterday 5/21 @ $93.07 Total holdings 7,979,011

doesnt he read gefvert and spiekerman???  Tragic development.

He must not get the Motley Fool either.  How does someone with some much money stay so uninformed?

[jft310]

PET
Heres the SEC link
http://www.sec.gov/rules/final/34-46421.htm

[petrengr1]

Thanks. So it looks like the critical level of ownership is 10%. Nothing critical at 15%?

Next critical level may be 20% which could trigger the poison pill or at least require him to declare his intentions.

[ltinvest]

I have pondered adding more shares. At $1/mcf, Pavel's NAV is $100 and that does not account for the value of the future prospects. And while I expected something close to the $1.20/mcf average price of the region, I truly believe the extended discussions will result in a better and more comprehensive deal. We know Exxon, Total, Shell, JKM, and Pertamina are/ have been invloved in discussions. Oil Search and PRE are involved in Triceratops exploration efforts and who knows what Farm-Ins may get done for PPL 236 & 238. I see tremendous risk reduction (including Phil's retirement) and now Chandler is buying at $93. Presumably, he sees a lot more upside from here. So add I will. Additionally, I have not been overly concerned with timing. I do believe the "pot has been sweetened" with the extended negotiations. However, I can't imagine IOC will want to go into the Annual Meeting without a completed deal. Perhaps I'm wrong but I also know there is instituational heat/encouragement to get a deal done before the end of Q2.

[Palm]

16.4% marching toward???? At 20% he would have to declare his intentions. We should expect he will buy more shares at these levels.

[TxPm]

Palm, I couldn't agree more. Great thing is Chandler can still pick up almost 1.5M more shares before he gets to the 20% market. If that is his intention I think it will be difficult to keep the price below $100. I just don't think there are many sellers at these levels and at this point in time

[Palm]

When he first started buying in he was buying 10-15% of the day's volume I believe. See if we get a little surge through close.