RE:RE:RE:RE:Elena Sartov on the UK Board AgainGolong
Putting oneself in the shoes of the board and chief exec of a potential bidder - most likely Delek.
1. You don't want to pay more than necessary but you also know Ithaca won't accept a $2 offer.
2. You are watching your back, the sector is heading for a multi year bull run where bonuses will be high and you don't want to damage your credibility with any unnecessary risk at this point in time.
3. So when is that optimum time when you are positioned to bid at the lowest price that is likely to be accepted by Ithaca and the institutions while at the same time you can demonstrate to your shareholders that you minimised the company's risk? Previously I have said this would be after Gdansk departure, but considering all I think that you are probaly right in saying that the time is when the platform is initially secured at the North Sea site.
Doug