@eastmed_NRG @Sigmalivecom @Sigmalive_EN @stevensonpeter8 @Marflo66036248 @PoulladosM @WSJ @BloombergNRG Lets talk about $NBL shareholder presentation points theyre making about how thorough they were at working through their options before landing a $CVX deal
@eastmed_NRG @Sigmalivecom @Sigmalive_EN @stevensonpeter8 @Marflo66036248 @PoulladosM @WSJ @BloombergNRG Since $NBL lay out their process i would like to see #elliottmanagement work through all those options with the $NBL board to see how thorough they were vs just justifying a rescue deal into their own pockets...
@eastmed_NRG @Sigmalivecom @Sigmalive_EN @stevensonpeter8 @Marflo66036248 @PoulladosM @WSJ @BloombergNRG considering the strategic value theyre saying was attributed to the east med assets of Noble doesnt this explanation seem a little light on details? shouldnt #elliottmanagement really focus on this in rebuilding the case for a standalone NBL with a new plan/team/prospect?
@eastmed_NRG @Sigmalivecom @Sigmalive_EN @stevensonpeter8 @Marflo66036248 @PoulladosM @WSJ @BloombergNRG Ultimately the board of $NBL is saying to shareholders "trust us we did all we could. Go read the S4. The best deal is on the table. vote it through" - those statements...especially no stone left unturned can really trip them up if Elliott does its homework properly
@eastmed_NRG @Sigmalivecom @Sigmalive_EN @stevensonpeter8 @Marflo66036248 @PoulladosM @WSJ @BloombergNRG if i were board/mngmt of Noble and i had such a remuneration package i would vote it through as a rescue deal and get my shareholders Chevron stock - every day of the week - and most shareholders being passive will agree and vote it through cause Chevron stock is better than NBL
@eastmed_NRG @Sigmalivecom @Sigmalive_EN @stevensonpeter8 @Marflo66036248 @PoulladosM @WSJ @BloombergNRG But if Elliott has a real plan that is actionable and Elliott comes with the capacity/credibility to see it through then things change. Its going to be tense and intense
@eastmed_NRG @Sigmalivecom @Sigmalive_EN @stevensonpeter8 @Marflo66036248 @PoulladosM @WSJ @BloombergNRG When $NBL talk about going through various monetisation options for East Med assets my guess is they ran a process to say they did so but wouldnt want to put too much effort in making the East Med work when really they want a $CVX "Whitewash"/Rescue deal
@eastmed_NRG @Sigmalivecom @Sigmalive_EN @stevensonpeter8 @Marflo66036248 @PoulladosM @WSJ @BloombergNRG What happens post close/if closes? new $CVX way going to really make the region work in the East Med? if thats their intention what are they doing to ensure things work out with the deal/operationally on the groundwork/stakeholder relations? Will $CVX rely on same NBL Team?
@eastmed_NRG @Sigmalivecom @Sigmalive_EN @stevensonpeter8 @Marflo66036248 @PoulladosM @WSJ @BloombergNRG Have to decode "limited buyer universe" - Theres a lot of truth in that. The East Med assets are not really for your average fund/private equity house/industrial player to take on. Its a complex situation. Therefore stakeholders that can make the East Med work are very limited...
@eastmed_NRG @Sigmalivecom @Sigmalive_EN @stevensonpeter8 @Marflo66036248 @PoulladosM @WSJ @BloombergNRG Therefore NBL will not have been able to extract the price they expected for East Med assets from any buyer. Especially not now. When that situation comes to bear the smart way to make all OK is to roll into a $CVX deal
@eastmed_NRG @Sigmalivecom @Sigmalive_EN @stevensonpeter8 @Marflo66036248 @PoulladosM @WSJ @BloombergNRG However - Things are changing in region and this surfaces the need for more strategic ownership of key assets across Israel - Egypt- Cyprus. #Elliottmanagement will understand this (id hope) and have a plan for what next. NBL ultimately ran out of road to $CVX advantage
@eastmed_NRG @Sigmalivecom @Sigmalive_EN @stevensonpeter8 @Marflo66036248 @PoulladosM @WSJ @BloombergNRG The other point id agree on is that if theyd sold the East Med the other business isnt sustainable given their capital structure and their recovery abilities. NBL board overplayed their hand and now seek refuge in a good enough under the circumstances $CVX deal
@eastmed_NRG @Sigmalivecom @Sigmalive_EN @stevensonpeter8 @Marflo66036248 @PoulladosM @WSJ @BloombergNRG ...but they were responsible for those circumstances...

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More from @EastmedC

18 Sep
@eastmed_NRG @stevensonpeter8 @FionaMullenCY Past few days ive been doing my research on Cynergy and what could be behind it all. This will be quite a long thread to analyse it all (as far as we can see into whats going on)
Its becoming clear now that i have read through everything Cynergy related that there was a lot more to it with the story than what appeared last year across Greek-Cypriot @PoulladosM , Gulf-Arab @jcgnana and US media @kbenme mentions of Cynergy last year.
The google-translations of articles appearing in Greek Media @Sigmalivecom are OK for an overview but I want to try and make sense of them a bit more before posting about them.
Read 75 tweets
17 Sep
Once upon a time #Erdogan & #Turkey was seen as a success story that had 0 problems with its neighbours and great relations with #Israel - to the extent that the pro-Israeli Jewish diaspora were very keen to host Erdogan and collaborate across many issues tccb.gov.tr/en/news/542/52…
Attending the meeting were Citi's Chief Executive Officer for Europe, Middle East & Africa James C. Cowles, Partner at Caxton Associates Jeff Enslin, CEO of Lazard Ken Jacobs, President of Blackstone Hamilton E. Jones, CEO of Warburg Pincus Chip Kaye,
Henry Kissinger, president of WL Ross and Co. Wilbur Ross, Representative of the Secretary-General for the Investments of the Fund Carol Boykin, chess grandmaster Magnus Carlsen and his manager Espen Agdestein, James Rothschild of the Rothschild Family.
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