Total.com on deal

[jft310]

http://www.total.com/en/media/news/press-releases/oil-search-and-total-sign-agreement-regarding-acquisition-interoil-assets-papua-new-guinea

[ArtM72]

http://www.total.com/en/media/news/press-releases/oil-search-and-total-sign-agreement-regarding-acquisition-interoil-assets-papua-new-guinea

I can't even read this damn press release it makes me so mad.  Not only does OSH steal IOC's assets OSH gives 60% of those assets away to Total for the SAME DAMN PRICE!

OK you Mulacek bashers, time to connect the dots.  Not a pretty picture at all.  How 'bout that Board!

[jft310]

It's a bad deal . Is Phil the answer??

[Stavros]

The correct answers are:

1. "Gimme 25% more"

MORE shares of OSH
MORE CA$H

2. DO NOT GIVE HESSION A BONUS FOR CHANGE OF CONTROL

3. CLAW BACK HESSION'S BONUSES AND SALARY

[jft310]

Hession has an employment contract not going to claw back anything .
The BOD should have included mandatory stock ownership by x date . But they failed to do the right thing . They did include a chunk of money if Hession sold us out !!

[ArtM72]

Hession has an employment contract not going to claw back anything . The BOD should have included mandatory stock ownership by x date . But they failed to do the right thing . They did include a chunk of money if Hession sold us out !!

Contracts only go so far before bad faith actions by one party (unjust enrichment, Hession) to subvert the intention of the contract (increase shareholder value) becomes itself willful breach.

[Tusker]

Recall Hession proposed the "Buy Back". He in print showed he threw the BOD under the bus.

[kommonsents]

I don't think the Fat Lady has sung yet.