RE:RE:InterOil - Historic Buyout Without Reserves Right you are, I don't think Recaf should / will settle for anything else but several times it's current value. That being said in America, any way, something is only worth what someone is willing to pay. Example a pediatric surgeon that saves 100 lives a year with a value at least a value of one million per over time or let's say, for the sake of argument, benefits society for like a $100 million a year, will only make one or two million a year and a hot basketball player out of college can start at $10 million. Why because basketball has a mass audience with those willing to pay to reach it.
The same thing with oil or anything. We will only get what somebody/somebodies are willing to pay. And here is the rub: BIG oil, as you may have read is under tremendous pressure from two great forces: the radical environmentalists who are increasingly getting control of the agenda of big oil to curtail exploration in favour of "greeness" and ever demanding stockholders pushing hard for greater dividends , again, at the expense of exploration.
Now I think all this curtailing of current production will eventually push oil much higher as the reality sinks in that modern economies can not rely on wind, solar, concrete blocks, and other non-sense. Thus proven oil in the ground can only go up in the long term. So it comes down to what is the present value versus the future value and who and how determined these values.