01-25-2014, 03:18 AM
'mikesioc' pid='36550' datel Wrote:
'Getitrt2' pid='36545' datel Wrote:This article is definitely below the standards I would expect from the WSJ. "may contain more than 5 tcf". Really?! Where did they get that, just pull it out of their you-know-what? The variable payments on certification start at 5.4 Tcfe. The GLJ certified "Best" or middle case amount is 9.9 Tcfe! "A deal worth up to US$3.6 billion", indeed!? "UP TO"? How about $5 billion at that 9.9 level plus potential upside and not including any amount from a likely additional discovery in PRL 15. Did the "author" print some article submitted by someone without any due diligence, or is he incompetent? Do the tentacles of the shorts now extend into the WSJ? Give us a break!This is a question as much as a statement but my understanding is that 9.89TCF is $4.2 billion and >=11.79TCF is $5.3 billion, then the additional uncapped bonus kicks in with the first TCF free, so an additional 5TCF (16.79TCF) would be an extra $400 million. Those are the direct figures from Hession on December 6th. I'm always ready to dog pile the shorts and the idiots in the financial press but let's be accurate.
You are right. I was adding the fixed payments which are already included in "Indicative Payment", but that is still significantly more than the WSJ "up to $3.6 billion".
