Thanks Sam,
I did some digging into TotalEnergies. Look like a stellar company and agree, definitely a takeover candidate.
A couple of thoughts:
- They're already the 2nd largest LNG producer globally and have aggressive targets (want to double LNG output by 2030 - see shitty image below).
- They have a pretty consistent spend on acquiring oil/gas explorers ($6-8B USD per annum over past 3 years), however looks like their capital is already locked up / allocated for 22-23. This may prove good timing for IVZ - give us time to drill a few more targets and prove up the resource.
Was trying to gauge peoples thoughts on a takeover:
- What offer price might be (obviously need to do more drilling first to see what we have), but if resource estimates are correct, I guess timing will be a big determining factor. Say a major tries to takeover end of 2023 - early 2024 & we are successful on Mukuyu & Baobab, was thinking $3-5 range might be realistic ($3-4B valuation).
- If this was offered - would shareholders accept? What are thoughts here?
Cheers
