Is it possible that a company with a $5 billion market cap can write down $4.2 billion in reserves? I guess so. Thank god Noble did not sell off all the international conventional assets to fund the financial black hole of onshore unconventionals.
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Not quite right. With GAP, all things are possible. You just make somebody else own it... and then quietly grab the cash while everyone else is distracted.
DS and KF are GAP experts. They have it down to a science.
With GAP, all things are possible. You just have to own it.