share price must be undervalued, page-3

Al10,

I will point out one major correction, and that is for the International assets.

Shell are paying not only for 10%, but for the right to 50% of the remaining 90%. On the international front imho it is probably worth rereading the detail carefully and perhaps working through a couple of scenarios of what might happen to come to some idea of the implied value.

Also worth remembering several significant assets excluded from the Shell deals, in particular:
*India
*The power generation businesses
*PES(and LNG) shareholdings.

EL