RJ Says Redo

[oliver.gump]

All you had to say was, "The stage is set for a new deal". How do your make a NEW deal when A7 is already a hole? What will change the appraisal process to favor IOC shareholders in the interim? OSH will announce A7 results every month. Antelope appraises for 7Ts and IOC is still trading for 45$? I wouldn't call that a reckoning.

The deal you voted for (and I voted against) is dead. its over. the appeal Court killed it.

Any deal reached now will be a NEW deal. A new deal doesnt need A7 to be part of it. A new deal will either survive or fall on its own merits.

XOM still wanted E/A even though Total were planning on taking 6+Tcf for their own process. This tells us that XOM assumes (internally?) that there is 10-12Tcf in the formation.

[Putncalls]

That's a lots of supposes. If Antelope appraised at 9Ts that would have been great. It didn't and the primary question should be.... Could it?

[jft310]

Hint to Puts
The Oil Search appraisal was compromised

[Putncalls]

That doesn't mean the next appraisal won't be compromised.
Who are the appraisal candidates that are "versed in PNG geology"?

[ArtM72]

That doesn't mean the next appraisal won't be compromised. Who are the appraisal candidates that are "versed in PNG geology"?

All that you need to recognize is that if Hession stipulated a water drive be assumed by the appraisers we would have the difference between the 7 of the XOM deal and the 10+ TCF estimated  by IOC's official appraisal. And then the big fat $0 for everything else.

RJ needs to figure out a way to save face. OK, they were long time supporters, but for whatever reason couldn't hang in with the resources. Right now they need to step forward and propose values for all of the assets ignored in the XOM appraisal to be added to the $45 base line for Elk/Antelope, and that includes the value of the PSA with Total.

[Putncalls]

I wasn't aware that RJ needed to do anything? No one says Hessian stipulated a water drive? Hessian and crew are cutting and running and they are on the inside.

[jft310]

The GCA numbers for their appraisal scream water drive . There is no other way to explain a drop in numbers . Recently in Court Paradigm Capital states the sale price under values IOC . Luv to see a copy of that analysis.

[Getitrt2]

Why would Hession or any other insider do anything to reduce the certifications when that would reduce what they get for their numerous shares in IOC?

[jft310]

Hession only wanted to collect his $50 million . See what the court said in PM's release . Attitude was sell at any price . That will haunt them financially

[ArtM72]

Hession only wanted to collect his $50 million . See what the court said in PM's release . Attitude was sell at any price . That will haunt them financially

Without a question, stipulating water drive for the appraisal and agreeing to the cap, was/is huge.