The Attempted Grand Theft of IOC

[admin]

1) "I think they only thought they would have to pay for about 7 TCFe.  (PET's major premise)

2) We had a Gaffney and Cline estimate for about 7 TCFe in about 2012.   (PET's minor premise)

3) So I think they both went with that estimate"       (PET's conclusion)

So this is what Pet says.

I simply take that as:

1. When TOT and OSH entered PRL15 they thought the contingency payment risk was relatively low (on whatever estimate it is based is not terribly relevant, those of Gaffney, their own, a mix, whatever)
2. Now, after three years of appraisal, they might realize the contingency payment risk is a lot higher.
3. The OSH take-over of IOC and MoU with TOT is at least partly informed by the desire to reduce that contingency risk.

I don't what your problem is with this interpretation, but perhaps I'm the idiot..

[Stavros]

No Admin ... You are not the idiot

[wapitidropiti]

1) "I think they only thought they would have to pay for about 7 TCFe.  (PET's major premise)

2) We had a Gaffney and Cline estimate for about 7 TCFe in about 2012.   (PET's minor premise)

3) So I think they both went with that estimate"       (PET's conclusion)

So this is what Pet says.

I simply take that as:

1. When TOT and OSH entered PRL15 they thought the contingency payment risk was relatively low (on whatever estimate it is based is not terribly relevant, those of Gaffney, their own, a mix, whatever)
2. Now, after three years of appraisal, they might realize the contingency payment risk is a lot higher.
3. The OSH take-over of IOC and MoU with TOT is at least partly informed by the desire to reduce that contingency risk.

I don't what your problem is with this interpretation, but perhaps I'm the idiot..

No STP you are absolutely correct.  The OSH deal is an obvious manuever for them, TOT and OSH, to avoid  a very large payment to us. Vote no.

[cybersssss]

The title of the thread says it best .... GRAND THEFT

They must not get away with this. Vote NO if they do not sweeten the pot and give us fair value.

[sageo]

If you knew E/A was 10 T plus would you buy more shares in an equity raise ??! Our answer is yes . I can assure you all the major holders would buy more with appraised results in that area . And yes the stock price would have a major lift with that 10 T number . Yes above $42 a share with those results. So finish the GCA and NSAI appraisal !! If it's low a very remote chance then time to re evaluate . Remember that GCA and NSAI report was due in June . It's June !! Time to finish the reports and make them public . Hint the market believes Phil and crew were buyers last week to increase their number of no votes to the deal . Further rumors are they have agreed to kill to the GCA and NSAI estimates in favor of new appraisers . Or more reasons to vote no !!

Jft - If we can get enough no votes to stop the deal and get rid of "big spender Hession" , within a year we will be RICHLY rewarded . Hope all the current buyers are "voting no" buyers.  As usual , we wait to see .

[admin]

No Admin ... You are not the idiot

I don't think anyone is the idiot here, it's merely a question of people not understanding one another. It happens..