'katytrader' pid='68006' dateline='<a href="tel:1459875 Wrote:

[quote='jft310' pid='68005' dateline='1459873114'] Read the Australian Financial Review article and the merger talk which today can't be in Interoil shareholders best interest . A fire sale at $38 Brent . A no go .

Yes, thank you, I read all of this, just as I have read for years about the baggage relating to Muacek weighing down IOC shares, some valid, some not, imo.   But address the question regarding the professional money manager.  Is there any evidence that any of them have an interest in constraining the BoD?

[/quote

Reality check . In mid Dec 2013 Hession is hired and oil is $100 a barrel and his comp package was based on $100 oil at the time . Today we are sub $40 oil thus contracts need adjusting to current prices and events . The BOD of Interoil should keep up with other oil companies and make adjustments , How could we be one of only firms to not adjust terms of deals when prices drop 60 percent . One does not reward after a sale , after a 60 percent drop in oil prices . One rewards the recovery not the drop , if you own an oil and gas mutual call them up and ask to speak to the portfolio manager , they will talk to you if you tell them you own their fund . The rest is common sense but you must see all the articles about cuts on these pages to get perspective .

'jft310' pid='68019' datel Wrote:

'katytrader' pid='68006' dateline='<a href="tel:1459875 Wrote:

[quote='jft310' pid='68005' dateline='1459873114'] Read the Australian Financial Review article and the merger talk which today can't be in Interoil shareholders best interest . A fire sale at $38 Brent . A no go .

Yes, thank you, I read all of this, just as I have read for years about the baggage relating to Muacek weighing down IOC shares, some valid, some not, imo.   But address the question regarding the professional money manager.  Is there any evidence that any of them have an interest in constraining the BoD?

[/quote

Reality check . In mid Dec 2013 Hession is hired and oil is $100 a barrel and his comp package was based on $100 oil at the time . Today we are sub $40 oil thus contracts need adjusting to current prices and events . The BOD of Interoil should keep up with other oil companies and make adjustments , How could we be one of only firms to not adjust terms of deals when prices drop 60 percent . One does not reward after a sale , after a 60 percent drop in oil prices . One rewards the recovery not the drop , if you own an oil and gas mutual call them up and ask to speak to the portfolio manager , they will talk to you if you tell them you own their fund . The rest is common sense but you must see all the articles about cuts on these pages to get perspective .

Well, common sense says ask for evidence.  So what evidence do you have.....especially since you seem to read so much....that any funds holding IOC stock have given any indication that they are unhappy with the IOC BoD such that they would support motions to constrain the IOC BoD?

Further, what evidence do you have that other oil (sic) companies have made adjustments to contracts?  A few have said that they would take some pay cuts, but Mulacek focuses on payment if there is a change in control.

You may want to read the last Statement of Executive Compensation.  It seems to gear Hession's change of control payout to unearned milestone bonuses at the time of change of control.  These are the milestones which (most) readers here seem to want achieved.   So......to reduce the change of control payout, the incentives for milestone achievements need be reduced.  Would you prefer that because you read about a rumor in a newspaper?

It may not be obvious to you, but prudence would give a BoD a lot of, not less, discretion in difficult times.  Should market and perhaps other conditions worsen, would you really want to prevent the BoD from making a sell-down needed to keep the enterprise afloat?

'ArtM72' pid='68045' datel Wrote:I sure as hell would like to know how we are spending $120 million per year and why IOC can't drop that by another 90% if we're not doing any exploration, selling any gas or building any gas processing facilities. There've gotta be a lot of IOC people living like kings jetsetting around the world to talk to the investment communities. How has that worked out for us?

Art - I believe I read recently that we would be spending 175 million for 2016 !! Gotta' be nice to be an IOC big-wig at this stage of the game....(even if it's all on borrowed money). Maybe something "miraculous" will happen someday to help us over the hump.[ Still tryin' to keep the faith .] (...weak smile) .