RE:SNV FinallyLionWhisper1 wrote: Well it seems that this long delay was 100% due to the fact that the partner did not want to work, communicate or even see the previous management. The true details will come out in due time but now that this is done, it paves the way for many opportunities.
The partner has two options, get JOA signed and start work or sell their interest and move on. Now with oil >$70/bbl i bet the partner will sell out. If they do sell out and the new partner works with SNV better, then SNV stands a better chance to either get cash flow from operations or sell the entire 100% to the many interested parties (that are only interested in 100% and if there is no partner(s) in the picture).
Also new CEO is proven in the area both from operations and business development. Selling a $2.5 billion dollar asset certainly comes with a roladex of contacts and the ability to get a deal done! If they go the operations route then his background will also complement success.
Those valuations done in the past are very accurate (for this high level analysis) and likely very close to what the reserve evaluators would assess.
Combined with this, the Indo government is a proponent for development and would facilitate any start of operations or sale to parties that would start operations.
We are 3 hours since news broke and already this level of interest, I can only imagine what happens if some of the above comes to fruitition!
Lion, excellent post and I have highlighted what many probably quickly glanced through, My sources have confirmed all of this and next week is Captain Kirk first official week to work the phone. I fully expect we get another press release by end of month and some big catylists for this stock to follow. Traders get in and out but would hate to be on the wrong end of a halt because then...well you know. Newbies just do your own DD on a 37 million barrel field and what its worth