Assume, Sinopec is excited with what down there and its potential. We finally know what our assets are reasonally worth and their long term potential. This is after only 5 wells out of possibly 100's + to come. These assumptions require a lot of study and analysis not to mention politics amd approvals.
Now you can see why bitchin about management is infantile. We have always been a pure asset play nothing more nothing less.
Lets say we are a 30 dollar stock in 5 to 8 years based on and results of recent drilling. Sinopec will have to pony up 10 bucks a share for Emeka Offor to accept. They are certainly looking at all their options. If the offer is not 10 bucks then we will open a data room and market our assets. Problem is, Sinopec may withhold information as long as they can to keep that data room closed or delay any further developement as long as they can. Its a high stakes poker game and us smaller shareholders cant play. Imagine the negotiations, lawyers, time and complexity involved in this process.
I hope we are bought out in 3 weeks. GLTAL ajmho
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