I will point out one major correction, and that is for the International assets.
Shell are paying not only for 10%, but for the right to 50% of the remaining 90%. On the international front imho it is probably worth rereading the detail carefully and perhaps working through a couple of scenarios of what might happen to come to some idea of the implied value.
Also worth remembering several significant assets excluded from the Shell deals, in particular: *India *The power generation businesses *PES(and LNG) shareholdings.
EL
AOE Price at posting:
$2.05 Sentiment: LT Buy Disclosure: Held