Deal size > $1b USD Debt will be able to be secured due to...

Deal size > $1b USD
Debt will be able to be secured due to cashflow positive Bauna Asset
Company has previously said they would rather not dillute investors, and therefore will try and do deals via funding.
"We don't want to be going for too much outside capital if need be, or none at all," he said."
Key reason to buy would be that field is close enough that the floating vessel can be redeployed to other fields later.
PBR are selling not because its a bad asset, but because their debt burden is huge, currently at $124billion USD.

Its hard to work out a valuation yet until the deal is signed and funding is explained. However, as I mentioned before, this does transform the company into a revenue generating one - with very very good growth options moving forward.

So do we sell off abit from here due to unknown answers - perhaps. I still think this is a very good long term buy here given its good cash position and confirmation that it has won the competitive bidding process .. which took 12 months.

Goodluck, I am remaining long,

PB.