shell takes stake, page-6

Temp,

I doubt that PES holders would be that desperate to sell for only a 30% 30day VWAP valuation. I mean each to their own, but to think that people would want to ditch out of the company when it has around 2000 2C resources is a bit crazy. PES has the cash to survive and prove up a hell of a lot more value for its holders. Hell, SHG only went for $880 million with 434PJ 2P resources. If BG does come through with an offer, technically SHG will have gone for something more like $1.5 billion. Why then would you expect PES to go for only $1.30-$1.70....LOL

SF