http://www.infobeat.com/stories/cgi/story.cgi?id=2555077437-938The above is an interesting article on the current situation.UncleSammy: didn't see the WSJ article. Can you summarize?ant.
Actually, all of the ideas in the article were expounded upon throughout the day on CNBC, especially during the Faber Report. If you were by the tube, then it was hard to miss the coverage. It sounded grim in nature, but thankfully there was an announcement just before the close of trading that the company would speak within the next couple of days, specifically with respect to the bids.
Thanks for replying.I really could a quick summary of any useful info as I haven't been looking at the tube.Any info is better than no info.
The article was by loren fox. The e-mail is email@example.com.Basically is said that the company had hired CIBC World Mkts Lovegrove and Assoc. and Lehman Bros to evaluate alternatives. They are selling interests to develop huge gas project in Thailand. They are considering selling all or part of the company, with a decision coming by late July (today it was announced that the decision would be much sooner). Wall Street expects an entire sale to bring between $1.0 and $1.9 billion.Today Faber outlined the same points, but he seemed somewhat skeptical after his conf calls with several larege petro companies that were uninterested in purchasing Triton. Bringing down the price may have been BP who is already involved in the project but had no interest in acquiring Triton.The late run-up in price occurred when Triton finally leaked word that they would come out with a statement within the next couple of days. The assumption then was that there was actually something positive that might have taken place.Nonetheless, this has been the most heavily traded option the last few sessions.
Thanks for that. Now that the announcement is made and the deal is bust and the stock has tanked, what to do?My broker says that the trusted analyst says post-deal the stock is worth ~$35. I wonder how long one has to wait for that much of an upward swing. Conference call is going on currently. ant
Post-conference call, there is this: assuming $16 bbl oil prices, OIL is worth $35/share, I'm told, and waiting 2-3 months, may bring it up to that range.Hard knock taken (~48%); seeing if it is worth the wait.
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