re: teresa value
Dan, I enjoy your posts mate, but please check figures before posting.
Total cost of gulf oil assets was $236m, Of which $130m was borrowed at very low US interest rates and cash component for balance.
At 31 Dec 2011, the total debt, being all non-current (ie. not payable within 12 months) was $127m, so the $350m figure you use is way out. Thus you would think would skew-wiff your assessment by quite a degree on realizable assets net value by $233m.
LNC Price at posting:
89.0¢ Sentiment: Buy Disclosure: Held