Feel free to discount the cash received in two years
let's see how this happens
1) IOC receives $613 million in the first quarter of 2014
2) that 1st certification payment should be at least $4.1 Billion based on Knowledge Reservoir ,GLJ and the GCA released report
of 6.5 T's for sure with 8.5 T's with two more wells one of which was Antelope 3 another killer well and this new elephant in
PRL 15 per Hession on the call may be the same size ad E/A
3) Must assume some dilution to buy back the IPI psrtners , let's use a high number or IOC ends up with 60 million outstanding
shares
4) here's the math we receive $4.7 billion in cash please start with 50 million shares outstanding is $94 dollars per share in cash
what if we end up with 60 million shares and no higher dollars received IOC would have $78 a share in cash
lots of what ifs play around