I'm interested in the intricacies of the TAS to Noble Energy relationship, which seems to have some investors concerned about how that can effect the TAS holdings in EDE.
I believe that as TAS owns 100% of Noble Energy, it just means Noble Energy is basically an unencumbered asset and that it's just a convenient identification of an accounting branch of TAS.
Others, have implied that Noble's own directors would or could somehow re-direct some of its earnings to director charges, expenses etc. etc.
Can this issue be clarified by TAS?
TAS/EDE relative values, page-404
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