RE: God news is about right16 Dec 2024 15:13
Guys this is the point.
The ownership here is "retail" and respectfully don't have the relevant experience to determine what is and isn't a good deal. As previously written before, the share price is so low for a reason and it certainly isn't because of "management" over performance, IMHO.
1. It isn't BP it's Shell BG legacy but that doesn’t matter. What is one man's rubbish is another's gold but it doesn't mean you pay pay gold prices. None of us truly understand whether or not this is a good price or not (due to not having enought information to make that analysis) but to be very clear there have been many many examples over the past few years where big oil has paid little oil to take "their" rubbish - but still great little assets for well specific experienced teams to squeeze additional volumes and revenues out. Whether TXP are the most ideal for this I don't know but judging on the issues with bringing Casca onstream, I'd say not but they will probably lever some advantages in it.
2. That doesn't mean it isn't still a good acquisition and fairly priced at what TXP are proposing to pay.
3. As long as it is by debt and non diluting for current share holders at this price, I could stomach it. As previously alluded I am a tight bustard and getting acquisition and hence prices right is often difficult and I wouldn't be happy with any share dilutions at this price and time and would prefer to wait a little longer if that did occur.
4. I think what a lot of share holders are "concerned" about is PB has used up all his "trust" premium and hence they are concerned it will not be as they have beern "led to believe" or have chosen to surmise and are just plain fed up?
5. To be clear though I doubt there was a long queue of entities queuing up here, to take on these assets so potentially there may have been some lee way on price but who knows?
6. To say that the "management" team haven't set a foot wrong in the last few months is very generous considering previous formal informal guidances but hey ho that's what makes a market!!
7. What we need now is quality II participation and if not if this acquisition crystallises as "expected" ( ie solely debt) then seriously questions have to be asked why, even by the most "ardent" of supporters!!
As ever all IMHO, DYOR! Best of luck all.
GGG equally very disappointed that you chose to down size (ahem) and more importantly hope you will continue to contribute here! Apologies for typos! Best of luck all!!
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