BUYOUT FRIDAY? Hello Everyone:
Longford has one asset and it is the Chia property. It is obvious that Longford did not want to drill this property. They had done the bare minimum to get a buyer interested. Do you guys remember when there was a law concerning the prohibiton of alcohol and a few kept selling alchol even though the law said no. These people are now billionaires once alchol became legal. Genel, Exxon, Chevron, Sinopec and other Majors recognize that they need to get their hands on the PSC contracts before the law passes because once it does, the prices of these properties will increase in price significantly. The power struggle between Kurds and Iraq is politics, not to lose face, and to try to negotiate a better deal, much like all the crying we see around the world before governments give handouts. It is no different in Kurds and Iraq land. Both need to export oil to survive and build their countries. Do not ever think that a politician has control over any oil company. This should be apparent with Congress and Senators in the U.S., how many of them are financed and paid by big oil company. The same goes in Kurds and Iraq. It will be a question of greasing a few pockets and oil law will pass. If I were a MAJOR in Kurds, I would acquire all of the PSC contracts, then I would put pressure on politicians to pass the law, once they do, I own everything.
Deal should be announced Friday is my guess, a great Christmas gift to longs. The buyout price has to be significant in order to interest the likes of Soros, whom bought at 30 cents and, Ahmed whom bought at 37 cents. The buyout needs to bring shareholders a nice return. My guess is that, at the minimum 75 cents per share, maximum $ 1 per share.
Just my honest opinion