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+--- Thread: Seeking Alpha (/showthread.php?tid=437)
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- Libtardius Maximus - 02-28-2012
using Soros reducing while citing Tilson's position. Two bear articles two days in a row.
http://seekingalpha.com/article/396671-interoil-s-days-seem-numbered-as-soros-dumps-shares?source=yahoo
- Tree - 02-28-2012
Huh,
I think he forgot a few facts Lib...That's OK, it will make our squeeze all the more tighter.
Nice Straw Man argument too!!
"Now, it very well could be that Mr. Soros is simply taking some money off the table after realizing a gain over 100% on his holdings of IOC (he began accumulating his position in 2009 at around $33 per share according to the New York Times). However, it seems more likely that the legendary investor has some information the rest of us don't and I'm willing to bet it has something to do with the company's long record of failing to deliver on its grandiose promises."
- jft310 - 02-28-2012
Its the end of the month.Fight over month end values reported to shareholders.Yes its an organized bash. See Boston come back to help Tilson with his B/S. I blasted the guy pretty hard as a response. But we will need a large buyer to step up to defend the nonsense. The longs want a good close of the month also. They might defend on the 29th.
- ebster123 - 02-28-2012
If they have now reserves how could they even be $65 pps? If the Soros news was such a big deal why didn't this article come out the day after the Soros sale was made public? This rag is such garbage I can not believe it gets as much press as it does. I can't wait to see the shorts get squeeze. The image I keep seeing makes me smile
- Libtardius Maximus - 02-28-2012
I see stp accepted the challenge at the bottom of the article. As always.
- Palm - 02-28-2012
Note all of the spoon-fed reasons this newest "expert" uses. The quote in the middle of his article is right from another honest and ethical guy's site, Henry Blodgett. I wonder what's going on with the ex-professional online poker player? You'd think he would be doing some sort of panned update.
If you read some of this guy's other articles, he comes across pretty green. States that Facebook will be a successful IPO, partly based on what Google did. Google was smart; they went public relatively early in their "life" and had a lot of growth yet coming. Facebook is seen by most as being already at an apex for the most part. Once you get to where you are saying China is going to be your next growth market; good luck. Google has found that to be very tough going, and Facebook will too.
Love it when these "new" people write articles like this, then end by saying, "I have no position in IOC, but am considering going short in the next 72 hours." That's quite a statement. Shorts are using the mentioned 2-3 week "delay" in drilling results as a reason to short IOC knowing there will be a lull. So they "employ" guys like this to throw something out there that is very tired. Think about it. This guy says he's considering going short, and the primary reason is that Soros "dumped" (at a very nice profit) his shares. That "news" was out 2 weeks ago, and has had its play already. So if this guy is just now realizing Soros "dumped" his shares, how sharp is he? More likely that he somehow became enlightened to the IOC saga and just so happened to write this very informative piece.
Look for more crap to come to play this "delay" in drilling news. When certain people suddenly show back up on the Yazoo board you can bet games are on.
- admin - 02-28-2012
The article is actually doing us a favour as it's single rationale is based on the "discovery" of a fact ("no proven reserves") that:
- Is known for years
- Can be ascertained within two minutes of research
- Nobody is denying it
- It isn't very meaningful
The suggestion is that Soros sold because he (belatedly!) "found out" that they have no proven reserves, it's hilarious, not worth responding to except for protecting the few grannies and newbies that might fall for it.
It just shows how weak their case really is.
- oilmd9 - 02-28-2012
Unfortunately the lack of action by NEC and lack of SD news opens the door for these short attacks. Had been hoping for some news before a T2 update but looking like this is less likely.
- Tree - 02-28-2012
This is like a pick thrown into triple coverage in the left corner at the goal line to lose the Super Bowl when the QB failed to see the unguarded TE in right corner of the end zone. It is more than ignorant, that he uses 'resource' as the reason to short IOC.
The largest risk factor has remains Gov't approval. PNG Ministers have proven to be dis-organized minimally and prone to bribes and corruption historically.
Then, there is that $100,000,000 Shell bribe, 'Project Zebra', that will only die with NEC PA amendments and deal configurations free of mischief.
- admin - 02-28-2012
Yes, even the worst case scenario is that Shell is forced upon them, but they can't do that way below market value as they will:
- upset other bidders (and other governments, notably Japan and Korea)
- ruin their FDI reputation
- Inasmuch as Shell is prone to ditch current plans, they will incur years of delay of getting govt. revenues from the LNG plant
- Upset the Gulf province in the process.
I don't see that as a positive balance for PNG, really, so not likely to happen.