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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Jacob Snyder who wrote (180108)	8/18/2013 7:37:54 PM
From: teevee	Read Replies (4) of 206332

I do not know why the Chinese simply do not buy the company> Yes. That's why I would never short IOC. If the market gets a whiff of a hint of a rumor that Exxon or Shell or a Chinese company are bidding for the whole company, the stock is instantly over $120 (my guess for the minimum serious bid). Political risk in PNG is far too high for such a generous takeout price or anything any where near close. Before any such offer was made, the buyer would have to have strong assurances from the gov't, and in that case, PNG could just as easily cancel the licences. IOC's share price is fraught with risks, another being potential market "head winds" in September and rising rates....when the tide goes out, all the boats go down.

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