Yep. All good questions. Think about them, talk to others, read the trade publications. You sound like someone who wants all the answers. Go find them. Do the hard work. I've been working on my answers everyday for more than two years. Ask those questions of business savvy people. Perhaps they can explain it in a way that make sense to you. I gave it my best shot. (I have to wince when someone characterizes your explanation as "interesting". It's a code word for "I'm unconvinced."
Nobody I've talked to about this deal has anything close to the full picture. There's much I don't know or understand. Many investments are like that. If investors knew all the answers, then everybody would be an "all in" buyer. Reality isn't like that.
Much of it will make sense after the deal is done, not before.
The question I ask myself is, "Do I believe enough to risk my money? So far the answer is "yes". When it changes to "no" I'll take my money off the table and look elsewhere. This is the same decision all of us have to make. There have been many who have dipped their toes into the water and decided they didn't have the stomach or no longer liked the risk/reward metrics enough to stick with it, so they moved on. You have the same choices: buy, sell, or hold. If you decide to stay, do what R Smith is fond of saying: fluff up the pillows, mix yourself a drink, grab your snacks and relax.
Meanwhile do your own due diligence. Read everything you can connected to Libya gas and oil. Learn enough so other smart people are drawn to you. Put together your own group of investors and share info.
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