Galp DivestitureThe forthcoming sale of 40% of Galp's interest in PEL 83 is not only important in that it will determine a true value for the Custos/Sintana interest but it will also indicate which direction Custos/Sintana will proceed with their interest, i.e., (1) will they put the combine up for sale or (2) will they participate in exploration and develpment of the PEL's in which they have an interest?
IMO....Custos/Sintana combine will choose to participate and soon after the Galp sale price is announced, the Sintana will float another 100M share offering which should raise between $200M-$300M...sufficient capital to underwrite drilling/completion expenses for a few years.
JMO (value=0)