Rheddle...thanks for the reply and your thoughts on the scenario presented.
I don't think we can or should forget what the earliest OBO-1 reports held. Remember, they indicated that the bulk of the oil was in block 2. Other high profile posters have indicated the find would put to shame the earlier releases of reserve potentials. Based on the OBO-1 results.....if shared....couldn't at least some of them now have a pretty good determination that there is oil present and that it will be found in great quantities?
I distinctly remember B. Morgan reporting CVX running to meet with ERHC AFTER their OBO-1 drilling. Who knows, maybe CVX lowballed an offer and Offor took the information supplied with CVX's offer elsewhere (read China or South Korea) and bettered CVX's offer. At that point, they may have a much better understanding of what they were buying into.
You stated, "Maybe it would be possible to put a clause into a buy-in deal that guarantees that if the find is smaller / larger than the level at which the deal is struck, then cash would change hands to compensate the party that got the short end of the deal once the oil reserves have been accurately estimated."
A buy-in is simply another company wanting to own/hold a certain percentage of the target co's shares. That said, once a price was agreed upon for a tender for the shares....there would never be a future exchange of cash for the same purchase. Not much different than you or I buying shares to have them either go up or down.
Again Rheddle...thanks for your input and thought provoking comments.
News 
Market Data 
Discover 
AI
