I read Resolution 2 as primarily about getting important but routine matters agreed - eg auditors, director re-appointments etc. I suspect Cairn may even have said some previous decisions may have been highly suspect in retrospect.
However if a deal was to be put to shareholders the bidder (and SN) would want to make damn sure that there weren't any cock ups or own goals in getting due process sorted - and in my experience once on the table the desire is usually to close the debate down as soon as possible.
The update on the FRR website is crystal clear and common sense to me - really does need a positive vote
I posted some fantasy posts about what i thought the value of FRR is worth when CPR is released. I woke this morning and reality hit, i am a dreamer. Then i read Philboys1 post on the other board about the value of the gas alone.
There have been some metorlic rises on some shares over the years. This one could join that club.
I can not see any one company taking our assets, they could be unaffordable So either we get more partners on farm ins, sell different blocks or we become a super major. The one thing i will say is if his figures are right then he says value of gas is around $160.00 a share. Thats without the oil Get them proven and could two majors come in for take over? Would it be reasonable they would take value and quarter it ? That would make an offer of around $40 a share for the gas
Add the oil, they can have the bargain price of £40 a share for the lot I could live with that
The figures are ridiculous, obviously its just FRR say so for now Get them proved and its a game changer (life changer) I am happy to watch the sellers, myself i am looking behind the sofa to hoover up what i can with these bargain shares. This is not a ramp, I'm holding not trading so its medium to long term holding for me. One question for those more savvy than myself? Could the amendment 2 in gam to be easier to have formal discussions when it comes to selling company on takeover, i know we need to still vote for final decision so nothing to worry about, but could this make it easier to initiate a vote and is that why we are doing it... because we have, or expect some serious discussions early next year with BP, EXXON sinopec et al.
Albeit unconfirmed by CPR we potentially have 20tcf - 50% of BP - add to that the potential of the Basin which if as prolific as the company makes out, we could be quickly approaching the worlds 7th largest providers.
BP are big in Russia, this will not slip beneath BP's radar surely..
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