RE:RE:WCPThanks Dfly, maybe mojito in a month or so. Been fighting off omicron. I'm winning the battle though. Haven't been vaccinated. Only Russian and Chinese vaccines available here. US, Canada have not approved them. If I get vaccinated here it may preclude me from getting approved vaccines.
Anyway I love WCP's and PlainviewOil's comments. They zero in on how can one reliably value cgx/fec without spending even more money drilling appraisal wells when neither company has that kind of free cash flow available? So if the assets can't be reliably valued, then how is a JV or farm-in possible?
Yet the markets seem to be valuing the assets at around $1 billion. I take that to mean that the markets feel that the assets are worth at least $1 billion with what is known so far. Probably more. So how does De Alba et al turn that into the revenues and cash flow that they desperately need? Some sort of carry provision needs to be worked into any final deal. One thing that I am certain of, echoing Taal's and other's comments is that nobody is getting anything unless certain people onshore aren't happy with the deal.