Answer to 62strat and stumpy :
I stated myself that OEL was closely held and nothing could be done without the brothers. I also said that the best way to end the discrepancy we denounce was a TO by Byron, a script TO two BYE for five OEL. That means a value of 12cts for each OEL, and a MC approximately equal for OEL and BYE.
Advantages for both :
- economy of scale (one management)
- better risk spreading
- better visibility and attractivity for fund managers and analysts
As for the brothers, they would be diluted but would have room (they have not now) to increase again their share to 20%.
Only disadvantage seen for those who are sure we shall hit a 1billion BBLs field in Alaska....
A-N
The BYE solution, page-19
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