my own theory in one hour, page-9

Mullet, pitch an offer of 1 for 8 and get HDR for $1,700,000,000. They will get $1,000,000,000 (in ground value) of conservitavely estimated oil (Ching, Tiof, Tevt) + gas at Banda and Pelican + Mauritanian exploration upside and $300,000,000 cash. Thats $1,300,000,000 worth. Total cost of Guyane, Uganda and all other territories $400,000,000.

It has cost them bugger all for everything at 1 for 8 = $2.50.