3500: Very good post. I agree with most of what you are stating.
Where I have my personal doubts is in respect to:
"I believe that SER management will resolve this uncertainty before the Ex date...". What EXACTLY does give you this confidence??
Personally, I sense that SER management is still trying to get the "MEGA deal" over the line - even if it would/will mean a(much?) lower valuation for ULEY. IF SER management will run out of time to achieve this (their "prime game plan"), then I could envision the spinning off into Tarcoola coming about without any new partner certainty. Time will tell.
Holding a great asset in some not traded entity is a scenario that I did live through (luckily with a very small stake in it) in the case of GOP/Flow. Was NOT pleasant at all.
Therefore, I am
a) NOT happy about the spin-off in the first place
b) Pleased to be holding only a tiny stake in SER now, which I can afford to not worry about at all.
All the best to all EBR/SER longs.
wasa
P.S. Wonder if SER's management is looking at ANY of SER's other assets AT ALL from time to time??
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