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Questions for the General Shareholder meeting

June 12th, 2009 · 8 Comments

If you have questions, please put them in a comment on this post. One of our readers has volunteered to put them to management at the meeting (thanks!)

Tags: IOC

8 responses so far ↓

  • 1 kencooksam // Jun 13, 2009 at 12:05 am

    When will they announce a deal?
    Wheres the OIl?
    When for the stripping plant.?
    How many T’s do they really have?
    Why 3 months at Antelope 1 testing?
    Does Phil brush his teeth in the AM or PM..??
    Thxs. and good luck on getting answers to these questions..smile.

  • 2 Roger // Jun 13, 2009 at 12:20 am

    1) When are we getting another drilling rig?
    2) Do we have the manpower/ expertise to operate two rigs at the same time?
    3) What order is priority in future drilling sites?
    ie: Complete Ant 1—> Begin Ant 2–>?—>?—>?
    4) When will Ant 1 testing be complete?
    5) When will the PNG govt sign off on a second LNG plant?
    6) What are management’s expectations by year end?
    7) Will the current ‘contingent resources’ figures be raised this year or at year end?

    These questions in addition to Ken’s above.

  • 3 rory mcgowan // Jun 13, 2009 at 4:07 am

    If ioc sells 20% of elk ant and lng facility what is the highest & lowest you expect to receive?

  • 4 bdahl385 // Jun 13, 2009 at 6:07 am

    Does IOC hold a higher interest position on Ant/Elk in any liquids production as compared to the gas production?

  • 5 kencooksam // Jun 13, 2009 at 1:25 pm

    Roger, IOC has two extra crews for drilling I know that one.Antelope 1 is mostly not included in the current contingent resources. That well may have 10T’s alone..Govt supposed to sign off in Oct ish, Ground breaking in Dec 09.
    IOC receives all the liquids revenue minus the govt take. The person in the middle on the SEC filings is a partnership owned byIOC. It a tax thingie..

  • 6 Roger // Jun 13, 2009 at 6:44 pm

    Thanks Ken!

  • 7 Janine // Jun 13, 2009 at 6:59 pm

    Stp: Are we close to getting anymore analytical coverage ? Do we need to split the stock at higher levels to get the bigger firms involved??

  • 8 kencooksam // Jun 14, 2009 at 3:02 pm

    Janine the stock needs more liquidity and a stock split would provide that.Its IOC market Cap that keeps fund managers away. Many funds have a minimum market cap size they can invest in. ala companies 5 Billion market cap and above. IOC is a micro market cap.Very few funds can invest in IOC. I can be specific IOC needs unsplit to get to $100 and stay there awhile before more funds could invest. That said at $80 a share I would expect IOC to split the stock 4 or 5 to one. That stock split would drive IOC close to $100 alone.
    Stock market analyst coverage is two sided. With IOC being so small there not much incentive for a Wall Street firm to pick up coverage. When IOC gets its deals then BNP and RBS have an incentive to pick up coverage but even then whats in it for them ?? IOC strategic will have lots nof cash and IOC will have lots of cash from either oil production or stripping plant revenue to fund the LNG plant. So limited equity and bond financing deals. Again no investment bank incentives for stock coverage. Now the country where IOC signs a deal might have some incentive say a Japanese bank as a courtesy but these not much of that around…IOC will have a very hard time getting more stock coverage in the next 24 months.Listing on the Singapore exchange would help.