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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Debt Free who wrote (197141)	9/1/2016 3:36:26 PM
From: JimisJim	Respond to of 206110

Sorry, I may be one of the very few here who doesn't follow IOC or XOM... but a quick Google search finds the following info on the XOM web site: The ExxonMobil Transaction will be implemented by way of a court-approved plan of arrangement under the Business Corporations Act (Yukon) and will require the approval of at least 66 2/3 percent of the votes cast by InterOil shareholders at a special meeting expected to take place in September, 2016. In addition to InterOil shareholder and court approvals, the ExxonMobil Transaction is also subject to other customary conditions. Subject to obtaining the aforementioned approvals and satisfaction of closing conditions, the ExxonMobil Transaction is expected to close in September, 2016.

To: Debt Free who wrote (197141)	9/3/2016 5:14:09 PM
From: Joe Frigabaldi	1 Recommendation Recommended By E_K_S Read Replies (1) \| Respond to of 206110

I received my IOC/XOM proxy vote links today. Merger vote is 9/21/16. As previously stated 66-2/3% affirmative vote required. Looks like deal is $45/IOC share paid in XOM stock based on a volume weighted average price over ten days ending two days before the effective date. Additional compensation is a Conditional Resource Payment (CRP) of $7.07 per IOC share per TCFE above 6.2 TCFE at Elk-Antelope up to a max of 10 TCFE. Max payment per IOC share including the $45 would be $71.87 plus maybe a few cents for interest on the XOM CRP escrow fund. CRP payment is forecast to occur in Q2 2017 after drilling and testing Antelope #7 scheduled to spud this month. The CRP won't be listed and can't be is traded or transferred. It doesn't appear that one would have to continue to hold your XOM shares to retain your CRP rights but I haven't found that explicitly stated. So the deal between now and 9/21/16 is whether or not to buy or buy more IOC. Or sell what you already have. At Friday's close of $49.08 by holding you would lose $4.08 per share, about 9%, with zero CRP payment or gain a max of $22.79, about 46%, with a maximum CRP payout. I've fished for a few more IOC shares a little less than the low end of end of the range since the XOM deal was announced but haven't picked any up. I may raise my limit. It will be interesting to see if IOC stays in its recent tight range until the meeting on 9/21. I don't see why the deal wouldn't happen but if it didn't, I would expect IOC stock to drop significantly.