Sintana Energy Inc V.SEI

Galp Divestiture

[geomanx02]

The forthcoming sale of 40% of Galp's interest in PEL 83 is not only important in that it will determine a true value for the Custos/Sintana interest but it will also indicate which direction Custos/Sintana will proceed with their interest, i.e., (1) will they put the combine up for sale or (2) will they participate in exploration and develpment of the PEL's in which they have an interest?

IMO....Custos/Sintana combine will choose to participate and soon after the Galp sale price is announced, the Sintana will float another 100M share offering which should raise between $200M-$300M...sufficient capital to underwrite drilling/completion expenses for a few years.

JMO (value=0)

[MrMoMnyMgr1995]

Wrong...

[capconstrained]

Correct.  SEI will cash out on PEL 83. The other blocks are in play but if a major were to offer USD$5 for the company, SEI will be no more.

[Eskimoman]

.....the interesting thing to watch is how the 51% to 49% plays out- does Katti make the call?.....

[capconstrained]

Custos will sell its 10% of PEL83

[geomanx02]

Interesting comment....Custos/Sintana are carried to first production.....seems best deal is to let Galp and new partner(s) spend their funds to find more O/G for Custos/Sintana.  Free wells seem like an excellent deal...But...WDIK...

[capconstrained]

The carry is only good until a FPSO is ordered.  SEI does not want to be squeezed like Impact was last year.  Monetize PEL 83 and then go from there.

[MrMoMnyMgr1995]

100%  Bose and Katti are equally in it to make a buck and see you later.  No one involved with SEI is looking to get anywhere remotely close to production. A little discount now instead of the risk of losing one's leverage.  We can't have cash and ownership simultaneously.  Management could not have said it enough in the last M&A, "not looking to raise".

[geomanx02]

KK is the $64K question....we shareholders do not know the terms and conditions of the joint interest agreement.

[farml1234]

only dumb posters would take $5.00 for the company jmho

[capconstrained]

If I wanted an opinion with a person with a negative IQ, I'd ask you

[farml1234]

Talk about being stupid you get the cake jmho