'admin' pid='67323' datel Wrote:

'kommonsents' pid='67316' datel Wrote:Are we allowed to discuss negative implications on IOC here? Aside from that, I'm sure you will get positive replies from the resident SHU cheerleaders to alleviate your concerns and cold sweats.

1) You are allowed to discuss anything relating to IOC positive or negative, however

2) If, like this post, doesn't add anything as you not address the topic of the thread, nor provide any other info or opinion, substantiated or not, but chose to instead resort to derogatory comments on others.

3) I'm having to do this in public because in previous occasions when I just removed such messages you claimed not to have been derogatory and/or provide useful info..

Actually, I found Kommon's remark kind of amusing and thus not without redeeming social benefit.

Here's my view on the $8MM/mo:  Where is it going?  The last report I recall had seismics being completed.  Not there. As we all know the arbitration is over and IOC's drilling operations have been shut down.  Not there either. They no longer have service stations or a refinery.  The construction crews used to prepare sites were dismissed long ago.

Too bad we don't have a GAO (different SHU board) to ferret out waste fraud and abuse.

We do have an annual meeting in the summer.  Maybe this issue will become mute before that time.  If it doesn't I doubt I'd have any reservations asking a pointed question from the mike.

'ArtM72' pid='67341' datel Wrote:

'admin' pid='67323' datel Wrote:

'kommonsents' pid='67316' datel Wrote:Are we allowed to discuss negative implications on IOC here? Aside from that, I'm sure you will get positive replies from the resident SHU cheerleaders to alleviate your concerns and cold sweats.

1) You are allowed to discuss anything relating to IOC positive or negative, however

2) If, like this post, doesn't add anything as you not address the topic of the thread, nor provide any other info or opinion, substantiated or not, but chose to instead resort to derogatory comments on others.

3) I'm having to do this in public because in previous occasions when I just removed such messages you claimed not to have been derogatory and/or provide useful info..

We already have had "mute" for several months. If it ends in March I will be gobsmacked again with IOC.

Actually, I found Kommon's remark kind of amusing and thus not without redeeming social benefit.

Here's my view on the $8MM/mo:  Where is it going?  The last report I recall had seismics being completed.  Not there. As we all know the arbitration is over and IOC's drilling operations have been shut down.  Not there either. They no longer have service stations or a refinery.  The construction crews used to prepare sites were dismissed long ago.

Too bad we don't have a GAO (different SHU board) to ferret out waste fraud and abuse.

We do have an annual meeting in the summer.  Maybe this issue will become mute before that time.  If it doesn't I doubt I'd have any reservations asking a pointed question from the mike.

'jft310' pid='67324' datel Wrote:Sageo-Some say patience is a vertue I think we can agree our patience is being tested . I go back to Total saying appraisal will be finalized this year . The only way this is finalized is with a payment in some form . Final means complete. My friends have verified this is Total's intent to complete the payment this year . This is Total speaking and it's their money they are spending. Total isn't the size they are without being credible . No it's not an option play .

For one, I'm looking forward to the "Trigger Date" cited in 3.4 a) of the SPA which is to happen five days after completion of the last appraisal well and its testing.

'ArtM72' pid='67341' datel Wrote:

'admin' pid='67323' datel Wrote:

'kommonsents' pid='67316' datel Wrote:Are we allowed to discuss negative implications on IOC here? Aside from that, I'm sure you will get positive replies from the resident SHU cheerleaders to alleviate your concerns and cold sweats.

1) You are allowed to discuss anything relating to IOC positive or negative, however

2) If, like this post, doesn't add anything as you not address the topic of the thread, nor provide any other info or opinion, substantiated or not, but chose to instead resort to derogatory comments on others.

3) I'm having to do this in public because in previous occasions when I just removed such messages you claimed not to have been derogatory and/or provide useful info..

Actually, I found Kommon's remark kind of amusing and thus not without redeeming social benefit.

Here's my view on the $8MM/mo:  Where is it going?  The last report I recall had seismics being completed.  Not there. As we all know the arbitration is over and IOC's drilling operations have been shut down.  Not there either. They no longer have service stations or a refinery.  The construction crews used to prepare sites were dismissed long ago.

Too bad we don't have a GAO (different SHU board) to ferret out waste fraud and abuse.

We do have an annual meeting in the summer.  Maybe this issue will become mute before that time.  If it doesn't I doubt I'd have any reservations asking a pointed question from the mike.

Thanks Art to you & all for a good discussion.

It wasn't my intention "to get anyone's dander up" or rile them.I guess I was just looking for some quality suggestions as to how our"preservation of capital" might be accomplished. Back in the late eighties,our family was going thru a ' finance downturn'. The decision was then made to (1) cut vacation spending,(2) eat out less,and(3) buy cheaper brand bourban and scotch,(4) as well as some other cuts.

In our case,would cheaper brand of 'pink shirts' help ? Who knows...(.every little bit would perhaps be helpful) ....yeah,yeah, I get it ..".only the Shadow knows". [ Smile]

["Actually, I found Kommon's remark kind of amusing and thus not without redeeming social benefit."]

And you're entirely entitled to that view, but I prefer people attacking messages rather than the messenger, especially in pre-emptive strikes that leave the actual content of the message undiscussed.

It seems like some SHU members feel that the IOC executives, BOD, and staff are sitting around their offices burning up their cash. This view undoubtedly comes from the frustration of waiting for final decisions to be made on A7 and completion of testing of A6. However, a $1.5 billion corporation always has a backlog of projects and work to complete during relative down-times. Back in December, I noted in another post that there were a number of IOC tasks that would require work and,consequently, expenditures during 2016. These include:

• Expenses for development of Basis of Design for Papua LNG in coordination with Total
• Expenses for development of early Front End Engineering and Design for Papua LNG in coordination with Total
• Review and study of over 1000 km of seismic lines obtained over last 2 years
• Review and study of aerial gravity gradiometry obtained over 80% of IOC acreage
• Review and study of well logs, wirelines, etc. from all E/A wells
• Integration of all well data with seismic/gradiometry for identification of later drill sites
• Integration of all data into IOC regional geological model
• Identification and high-grading of additional non-PRL 15 drill sites
• Review and development of additional sell-down plans for non-PRL 15 assets
• Possible fielding of offers for both sell-downs and sale of entire company
• Preparing all IOC data for certification appraisals

While we wait and post our thoughts on SHU, I feel confident that the professionals that work at IOC are checking items off this list in due course.

'2126' pid='67350' datel Wrote:

It seems like some SHU members feel that the IOC executives, BOD, and staff are sitting around their offices burning up their cash. This view undoubtedly comes from the frustration of waiting for final decisions to be made on A7 and completion of testing of A6. However, a $1.5 billion corporation always has a backlog of projects and work to complete during relative down-times. Back in December, I noted in another post that there were a number of IOC tasks that would require work and,consequently, expenditures during 2016. These include:

• Expenses for development of Basis of Design for Papua LNG in coordination with Total
• Expenses for development of early Front End Engineering and Design for Papua LNG in coordination with Total
• Review and study of over 1000 km of seismic lines obtained over last 2 years
• Review and study of aerial gravity gradiometry obtained over 80% of IOC acreage
• Review and study of well logs, wirelines, etc. from all E/A wells
• Integration of all well data with seismic/gradiometry for identification of later drill sites
• Integration of all data into IOC regional geological model
• Identification and high-grading of additional non-PRL 15 drill sites
• Review and development of additional sell-down plans for non-PRL 15 assets
• Possible fielding of offers for both sell-downs and sale of entire company
• Preparing all IOC data for certification appraisals

While we wait and post our thoughts on SHU, I feel confident that the professionals that work at IOC are checking items off this list in due course.

Thanks, 2126 for the kind of rational, useful, and not derogatory comment (to anyone at the Company or elsewhere) that seems to be rare these days, with other major exceptions being those from petrengr, of course.

'admin' pid='67347' datel Wrote:

["Actually, I found Kommon's remark kind of amusing and thus not without redeeming social benefit."]

And you're entirely entitled to that view, but I prefer people attacking messages rather than the messenger, especially in pre-emptive strikes that leave the actual content of the message undiscussed.

AMEN, admin!!!