Price only matters in relation to Total's valuation and timing to execute on that valuation.
When is that timing?
Of course, if I were Erhc I wouldn't want to execute the price until I've maximized Total's valuation.
When does that maximization occur? Of course after Shell's drilling. But how long after? I dunno. No one does. But EVERYONE is willing to wait and no one cares about PRICE. Only Total's price as represented by its valuation is what matters.
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