possible price first of all, whether or not genel buys lfd, i think lfd is a very valuable company. the consolidation in northnern iraq is inevitable, lots or big oil comonues are interested in this region, so lfd managament has an option to play one to another to increase the price of its asset. the basic rule in the economy is that the higher the number of buyers where there is limited amount of suplly is the higher the price.
for the price wise, i think that a decent premium to its book value will be fair enough. lfd has spent lots of money prior to the final phase of drilling. so it would be fair to get back all of those and plus a premium for the possible oil recovery in the field.
in my view, the price will be much more higher if lfd waits for other small players to be acquired by big ones.
the risk is the lfd management. if they want to take care of their own pocket under the table, then houston we have a problem.