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I think this one is for you TShirt.

If there was a T/O by OXY I would expect that it would be a straight cash offer. My reasoning for this is that the S/P of OXY on the close (Friday) was $87.90USD, with such a price differential I cannot see a cash/ share offer being part of the deal.

If I was at the table my inclanation with what we know (the qualification is that we do not know, the qulity of the data at Paloma, expected returns, geology reports, the data that OXY and Neon share at Paloma. Also we have liminted knowledge of Vietnam and Indonesia. Vietnam has proven oil reserves) I would be of the view to sell the whole business. This way you will maxamise the value of Neon to the share holders. Also, I have previously mentioned my reluctance in selling the cash generating arm of the business and revert to a pure exploration business.

I suppose if the option of selling Paloma as a stand alone would have to be significant in terms of cash and how that would come back to the share holders. On a governance level I think this would be a can of worms hence my view that it would be a cash for the Neon. Another thing is Vietnam is a unknwon as far as the gas goes.

Maybe another option would be OXY increasing the value of Neon by buying into Neon and becoming a partner??

In saying all of this I think we may be getting ahead of ourselves, but it is a good discussion point.