Year End results are out

[ArtM72]

Not sure any questions answered other than it is going to be IOCTOT v OSH in London. Spector wouldn't even give a clean statement if the first payment is coming from Total. Instead he said "once funds received" and McDougal from Westlake reply: "OK, great". If Hession's three points of Stabilize, Monetize & Secure were taken out of the presentation it could have been over in 5 minutes. How many times did he repeat those three bullets? Triceratops appraisal: March or April of 2015. No rush apparent there.

Not to drop names but Mr. Specter assured me that they "will advise the market as soon as the Completion Payment is received from Total."

Lady -

I wouldn't dispute that.  Mr. Spector said as much in the CC.  What he didn't say was when those funds would be received.  Granted, he didn't say "if".

[jft310]

Art-no he didn't say when. But the SPA does. That's the legal contract. Funds to be received in 5 days. That's Wed this week.

[Getitrt2]

Maybe already known, but per MD&A, Phil Mulacek retired from BOD 11/14/13. Hession appointed to BOD Nov 15. That I remember, obviously related.

[ArtM72]

Art-no he didn't say when. But the SPA does. That's the legal contract. Funds to be received in 5 days. That's Wed this week.

Oh, JFT, is it with an epee, foil or sabre we play?

There are many, many preconditions of fact

Effecting the SPA

[jft310]

I suppose worst case we extend the Credit Suisse loan . But Total and IOC knew their were issues which is why they changed the SPA . With the changes made and agreed to , Total closed. To think they would not wire in the money seems off base. Not that long till Wednesday . I wonder what time zone ?????thats a Ho Ho.

[Palm]

It's all Singapore time in the agreements.

[Li'loilady]

It's all Singapore time in the agreements.

Thanks Palm.  That's actually nice to know.  Singapore is 12 hours ahead of EDT.

[Palm]

It's all Singapore time in the agreements.

Thanks Palm.  That's actually nice to know.  Singapore is 12 hours ahead of EDT.

Lil, the Completion was to take place at 12 PM at IOC's offices in Singapore. Schedule 3 states the payment will be made on the 5th business day following Completion....  I guess we can assume 12 PM April 2 Singapore would be a deadline, but it does appear to be set on Singapore time.

[Li'loilady]

It's all Singapore time in the agreements.

Thanks Palm.  That's actually nice to know.  Singapore is 12 hours ahead of EDT.

Lil, the Completion was to take place at 12 PM at IOC's offices in Singapore. Schedule 3 states the payment will be made on the 5th business day following Completion....  I guess we can assume 12 PM April 2 Singapore would be a deadline, but it does appear to be set on Singapore time.

Palm, you make my detail-loving heart sing!  So, if we dare prognosticate, we might wake up Wednesday morning to a PR.  (12 PM being noon, eh?)  Maybe we'd better hope for Thursday.

[CAC]

It's all Singapore time in the agreements.

Thanks Palm.  That's actually nice to know.  Singapore is 12 hours ahead of EDT.

Lil, the Completion was to take place at 12 PM at IOC's offices in Singapore. Schedule 3 states the payment will be made on the 5th business day following Completion....  I guess we can assume 12 PM April 2 Singapore would be a deadline, but it does appear to be set on Singapore time.

Palm, you make my detail-loving heart sing!  So, if we dare prognosticate, we might wake up Wednesday morning to a PR.  (12 PM being noon, eh?)  Maybe we'd better hope for Thursday.

*********

I don't know whether this might be a clue or not, but I found it odd that when asked where the $400M would go, he didn't seem to have a clear plan. He said something to the effect of..."we will look at our balance sheet and our obligations at that time and determine what is best". Huh? If he knew they were getting it in 4 days, wouldn't that analysis/plan be pretty clear already?