mit der US-Regierung
Vielleicht kommt dieses vielversprochene Settlement doch bald und dies laesst jetzt den Kurs weiter anziehen. Habe da von der Research Company RJFalkner
eine interessante Nachricht erhalten. Die spekulieren da, dass der neue kalifornische Gouverneur Arnold Schwarzenegger, Republikaner, jetzt die Wende in
der ganzen Sache bringen koennte.
Folgend die Meldung
In an article that appeared in the Los Angeles Times last Sunday (October 12, 2003) entitled " California; `A Very Clear Vision` for State" , that reviewed
Governor-Elect Arnold Schwarzenegger`s agenda for the state, the following was part of a section on the Environment:
" Describing himself as an environmentalist, he (Schwarzenegger) also said he would prevent coastal oil drilling...."
Schwarzenegger, responding to an L.A. Times questionnaire, said, " California`s coast is recognized worldwide as one of our most precious resources, and
it must be protected."
" He also said the federal government should buy up offshore oil leases as it did in Florida."
The L.A. Times article was followed by an article in Thursday`s Santa Barbara News-Press reporting thatPresident Bush is looking to form an alliance with
Governor Schwarzenegger that can help the Republicans lock up California`s electoral votes in the 2004 Presidential election. The article noted that Bush and
Schwarzenegger would be meeting today in Riverside, California, at which meeting the Governor-elect would provide a list of things that he wants from the
Federal Government, including a buyback of the offshore California leases.
Several months ago, the U.S. Department of Interior, in a news release from Interior Dept. Secretary Gail Norton`s office, publicly stated that the government
no longer planned to pursue the development of the contested offshore leases and that a more logical resolution to the issue would involve a settlement of the
litigation with the oil companies (including DPTR) that own the leases.
Folgend RJFalkner spekuliert jetzt ueber den weiteren Verlauf, was recht einleuchtend ist.
1. The Bush Administration, in their opinion, places a high priority on California`s electorial votes in next year`s Presidential election.
2. The Federal Government has publicly indicated that it believes a settlement of the offshore lease litigation would be the most reasonable resolution.
3. If the Federal Government is going to make a " settlement offer" to the oil companies, it would make more sense for them to do so after the new governor
has taken office (Arnold will be sworn in early during the month of November), so that a Republican governor can " take credit" for a deal that prohibits future
drilling in the disputed areas off California`s coast.
4. The Bush Administration will face great criticism from Democrats in California if the contentious issue of offshore California drilling is not resolved by the
time the Presidential campaign gets into high gear (no later than early next Spring). President Bush has already been criticized by Democrats for the Federal
Government`s buyback of the Destin Dome oil/gas leases offshore Florida at a time when such action benefited his brother Jeb`s gubernatorial re-election
campaign in that State a couple of years ago. If the U.S. Government does not buy back the offshore California leases before the Presidential campaign gets
rolling in earnest, the Democrats will " roast" President Bush for ignoring environmental issues in California, while showing " favoritism" during his brother`s
re-election campaign in Florida.
When the above observations are combined with (1) strong economic and legal arguments that it would be in the Federal Government`s best interests to
settle the breach of contract lawsuit filed by the oil companies in early 2002, and (2) the legal precedence established by the Federal Government`s buyback
of disputed oil/gas leases offshore North Carolina and offshore Florida, we believe the " stars are lining up" for an outcome that should significantly benefit
DPTR shareholders in the next few months.
As we have noted in our Research Profile reports on Delta Petroleum, if the Federal Government were to buy back the California leases for an amount
approximating the original lease bonus costs and rental payments, DPTR`s portion of such a settlement would approximate $5.50 per share.
In our opinion, DPTR shares are currently selling for a very modest premium to the Company`s current estimated Net Asset Value of $4.50+ per share,
WITHOUT giving ANY value to the California leases. Thus, any settlement of the litigation that results in a buy back of the leases should be highly accretive to
DPTR`s share price.
Vielleicht kommt dieses vielversprochene Settlement doch bald und dies laesst jetzt den Kurs weiter anziehen. Habe da von der Research Company RJFalkner
eine interessante Nachricht erhalten. Die spekulieren da, dass der neue kalifornische Gouverneur Arnold Schwarzenegger, Republikaner, jetzt die Wende in
der ganzen Sache bringen koennte.
Folgend die Meldung
In an article that appeared in the Los Angeles Times last Sunday (October 12, 2003) entitled " California; `A Very Clear Vision` for State" , that reviewed
Governor-Elect Arnold Schwarzenegger`s agenda for the state, the following was part of a section on the Environment:
" Describing himself as an environmentalist, he (Schwarzenegger) also said he would prevent coastal oil drilling...."
Schwarzenegger, responding to an L.A. Times questionnaire, said, " California`s coast is recognized worldwide as one of our most precious resources, and
it must be protected."
" He also said the federal government should buy up offshore oil leases as it did in Florida."
The L.A. Times article was followed by an article in Thursday`s Santa Barbara News-Press reporting thatPresident Bush is looking to form an alliance with
Governor Schwarzenegger that can help the Republicans lock up California`s electoral votes in the 2004 Presidential election. The article noted that Bush and
Schwarzenegger would be meeting today in Riverside, California, at which meeting the Governor-elect would provide a list of things that he wants from the
Federal Government, including a buyback of the offshore California leases.
Several months ago, the U.S. Department of Interior, in a news release from Interior Dept. Secretary Gail Norton`s office, publicly stated that the government
no longer planned to pursue the development of the contested offshore leases and that a more logical resolution to the issue would involve a settlement of the
litigation with the oil companies (including DPTR) that own the leases.
Folgend RJFalkner spekuliert jetzt ueber den weiteren Verlauf, was recht einleuchtend ist.
1. The Bush Administration, in their opinion, places a high priority on California`s electorial votes in next year`s Presidential election.
2. The Federal Government has publicly indicated that it believes a settlement of the offshore lease litigation would be the most reasonable resolution.
3. If the Federal Government is going to make a " settlement offer" to the oil companies, it would make more sense for them to do so after the new governor
has taken office (Arnold will be sworn in early during the month of November), so that a Republican governor can " take credit" for a deal that prohibits future
drilling in the disputed areas off California`s coast.
4. The Bush Administration will face great criticism from Democrats in California if the contentious issue of offshore California drilling is not resolved by the
time the Presidential campaign gets into high gear (no later than early next Spring). President Bush has already been criticized by Democrats for the Federal
Government`s buyback of the Destin Dome oil/gas leases offshore Florida at a time when such action benefited his brother Jeb`s gubernatorial re-election
campaign in that State a couple of years ago. If the U.S. Government does not buy back the offshore California leases before the Presidential campaign gets
rolling in earnest, the Democrats will " roast" President Bush for ignoring environmental issues in California, while showing " favoritism" during his brother`s
re-election campaign in Florida.
When the above observations are combined with (1) strong economic and legal arguments that it would be in the Federal Government`s best interests to
settle the breach of contract lawsuit filed by the oil companies in early 2002, and (2) the legal precedence established by the Federal Government`s buyback
of disputed oil/gas leases offshore North Carolina and offshore Florida, we believe the " stars are lining up" for an outcome that should significantly benefit
DPTR shareholders in the next few months.
As we have noted in our Research Profile reports on Delta Petroleum, if the Federal Government were to buy back the California leases for an amount
approximating the original lease bonus costs and rental payments, DPTR`s portion of such a settlement would approximate $5.50 per share.
In our opinion, DPTR shares are currently selling for a very modest premium to the Company`s current estimated Net Asset Value of $4.50+ per share,
WITHOUT giving ANY value to the California leases. Thus, any settlement of the litigation that results in a buy back of the leases should be highly accretive to
DPTR`s share price.
