"A well respected, well researched, poster on another forum, has...

"A well respected, well researched, poster on another forum, has posted that BPT is asking $500 million for 30% of 855 from opening its data room."

Gassed how on earth would some "well respected, well researched poster" get THAT information from the Beach data room?

IMO thats just a blatant ramp.
As an ICN s/h I would love it to be true, but it simply has no credence. Give me some proof that is the case. You cannot put forward an argument based on someone else's ramp on the BPT forum.

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Let me put in my two bob's worth.
I have stated on numerous occasions that imho, there is no way that 218 and 855 will be developed independently. All of us can see it simply would not make commercial sense.

AND, the ownership structure of 218 and 855 is simply unworkable!!!!
Beach keep stating that 218 and 855 are a "basin centred gas play".
Which in my understanding is that both permits have multiple sources of gas which can be developed.
So with the ridiculous "politically" generated Operatorship in both permits, and their cross-ownership structure in Upper Permian and Lower Permian, it simply would be expensive, cumbersome and unworkable to try and develop both permits and basin play in the current ownership structure.
SO - something has to give !?
If we can figure it out in advance of the players - we will make a motza!

As an aside, whilst I am sure BPT will have a go at getting all of 855, I simply are intigued by the capital raising.
Everyone is saying - hey look now Beach has another $350m !

BUT - BPT have raised that money by explicitly stating how those funds will be utilised.
And that did not mention a t/o of ICN !
SO, imo BPT have actually listed the usage of those funds in order to get instos and s/h to subscribe for capital - so I cannot see how they can then use those funds for a totally different purpose?
They could get sued.
Interesting.
But of course they can use a scrip bid - I would much prefer BPT paper than ICN paper!

cheers