Ann: BPT: Beach sells its 40% stake in Tipton Wes, page-11

re: Ann: BPT: Beach sells its 40% stake in Ti... I must strongly agree with Hendrous, this is a great deal for AOE.

I had feared the price would be too high, but I feel there is value in it for AOE, esp if one
*assumes a fairly substantial tax mitigation
*recognises that $70mm of this is deferred, mostly only hapening in conjunction with deferred payments from Shell, and that $40mm of that isn't even for current 3P.

I am wondering whether there was some sort of poison in the JV arrangement that put off competitive bidding, certainly looks good for AOE, and under the lower range BPT had been mooting.

Very happy to be holding AOE ahead of this deal,
EL