Oil Search Valuation & Target Price, page-433

.. My Oil Search Estimate is based on these facts...
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1) 743 Million Cash Flow Positive Transaction
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2) Attached CVR (US$6.50 or higher) for Inter Oil is too lucrative
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3) Soon after merger, Share Buy Back up to US$770 Million will start (Almost 1.1 Billion AUD) which take out almost 10% stocks
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... Santos is loosing money on GLNG in big way, WPL need around at least $6 Billion to Fund Sempra LNG Project in US. Without some Capital Raising neither Santos nor Woodside can meet their Commitments Capex(They are not making money on LNG right now). That's why Woodside introduced Dividend Reinvestment Plan and raised $460 Million Through Dividend Reinvestment.
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