The funny accounting for the valuation of the Archaea acquisition is complete rubbish. I too have a pipeline of projects and a lot of hope I can sell you. The bankers get rich, the Rice bros get rich, and the bp shareholders and employees get stuck holding the bag. I am scared that this may be even worse than the wind deals. I am awaiting news of yet another restructuring to jumble the numbers so the street can’t properly track their commitments. Bullocks!
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I betcha I know enough to make such statements.
Would never have been allowed to spend that money buying a conventional producing gas field. Total overpay. But that follows the trend in wind, bhp onshore, arco, devon, Brazil, india/reliant etc etc.