I'm not going to comment on the Singapore IPO.
The UK government has just given the green light for unconventional O&G in the UK. It's a real blessing that the London IPO did not take place beforehand as we are now in a much stronger bargaining position - by multiples. I am really surprised many don't seem to get this.
DTE is a very early entrant into CSG and Shale in the UK and we have secured some very prospective and large acreage positions. Given the governmental green light the big O&G players suddenly want in and what we have is potentially very valuable. Conventional gas reserves in the UK are fast running out and new cheap energy sources are needed.
I expect DTE has been bombarded with commercial offers and it will take time to consider them all in detail (hence why a director has moved into the IPO roll full time). The company has a duty to obtain the best offer for its shareholders and a rushed decision to appease some nervous or impatient investors would be negligent in my book. Anyway, that's my take on things.
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