'ltinvest' pid='36680' datel Wrote:I understand the expectation. My first request is for him to do the best deal. That will be far more important than a day or week one way or another. Again, people that are far more familiar with these negotiations than me seem to be pleased with the process and I know there has been plenty of dialogue between the parties. Hession and team are working hard.

Yes, agree.  His words per the transcript are:

"Yes. I’m hopeful that that will be finalized no later than January and actually, let me be cautious no later than January. Let me try and continue to under promise and over deliver."

I took those words to mean he (at that time) was hoping the process would be completed this month; certainly not a "promise".  I could care less if the settlement goes into Feb to get the right deal.  In fact I am planning on it possibly not happening this week, and others should too at this point.  So with that in mind if you can't stomach a possible drop in pps (if you think that's what will happen), then trim here and buy after "the fall" or later.  If you don't think pps can ever recover from any such fall or it will be a long time, then sell all or most and plan accordingly.  But it's Wednesday in that part of the world and that doesn't leave much time.  If you can't stomach a possibe drop or even the thought of it, then act now.

'Palm' pid='36683' datel Wrote:

'ltinvest' pid='36680' datel Wrote:I understand the expectation. My first request is for him to do the best deal. That will be far more important than a day or week one way or another. Again, people that are far more familiar with these negotiations than me seem to be pleased with the process and I know there has been plenty of dialogue between the parties. Hession and team are working hard.

Yes, agree.  His words per the transcript are:

"Yes. I’m hopeful that that will be finalized no later than January and actually, let me be cautious no later than January. Let me try and continue to under promise and over deliver."

I took those words to mean he (at that time) was hoping the process would be completed this month; certainly not a "promise".  I could care less if the settlement goes into Feb to get the right deal.  In fact I am planning on it possibly not happening this week, and others should too at this point.  So with that in mind if you can't stomach a possible drop in pps (if you think that's what will happen), then trim here and buy after "the fall" or later.  If you don't think pps can ever recover from any such fall or it will be a long time, then sell all or most and plan accordingly.  But it's Wednesday in that part of the world and that doesn't leave much time.  If you can't stomach a possibe drop or even the thought of it, then act now.

Palm- Thanks for your comments.I can (at least for now) stomach the drops, but the old stomach is getting ulcers (it seems) from the "drops" over the years. I remember from my youth the saying....'too many cooks spoil the pie'..... i.e.in our case ioc, tot ,osh, xom and the png gov't. [ Too many cooks] In the old 'Katnjammer kids', Whimpy would always steal the pie off of Maw's window sill when it started to smell so enticing. I'm hoping our "pie" starts to smell real 'enticing' soon ! GLTA.

'ebster123' pid='36673' datel Wrote:Getit, I believe what some take issue with is that IOC needs to learn for past experiences. The market does not like uncertainty, this is fresh meat for shorts regarding IOC. If there is any chance an expected timeline can not be met then IOC should not set or give a timeline. There was a timeline for IPI. If not met is causes potential uncertainty which is prey to shorts. We have seen this way too many times.

Ebster, I do not think some slippage in the completion of the multiple, complex IPI/minority interest agreements should be seen as a big event necessarily and failure of management to keep a "promise'.  However, I agree it is more of a cause for concern, if it happens, than the changes in drilling plans and schedule for Wahoo, which I think were definitely no Hession "promise" and the subject of unjustified complaint.  On the other hand, I think the primary "uncertainty" on the former is the amounts and other terms of those agreements, and something that could not be avoided.  Such negotiations cannot be done in public, and I would think are very difficult to "schedule" the completion of.  I agree with someone who said the content of them is more important than the when, as long as they get done for accomplishment of the SPA closing.

I understand what you are saying, but it is an uncertain world, and PNG even more so.  Wanting as much information as frequently as possible from management, including timelines or dates, but wanting them to never be wrong or never need to make changes to the plans or "hopes", are contradictory.  The more you get of one, the more you are likely to get of the other.  There are a lot of changes in circumstances and judgment calls about matters and other people involved not totally controllable.  If you don't want "any chance" of the latter, you may have to accept less information and communication.  There are also judgments involved in how much information to provide when, and it seems to me that the more critical you are of the process and what is provided, the less you are likely to get potentially, although I am not trying to say there is never room or need for criticism.

'Palm' pid='36683' datel Wrote:

'ltinvest' pid='36680' datel Wrote:I understand the expectation. My first request is for him to do the best deal. That will be far more important than a day or week one way or another. Again, people that are far more familiar with these negotiations than me seem to be pleased with the process and I know there has been plenty of dialogue between the parties. Hession and team are working hard.

Yes, agree.  His words per the transcript are:

"Yes. I’m hopeful that that will be finalized no later than January and actually, let me be cautious no later than January. Let me try and continue to under promise and over deliver."

I took those words to mean he (at that time) was hoping the process would be completed this month; certainly not a "promise".  I could care less if the settlement goes into Feb to get the right deal.  In fact I am planning on it possibly not happening this week, and others should too at this point.  So with that in mind if you can't stomach a possible drop in pps (if you think that's what will happen), then trim here and buy after "the fall" or later.  If you don't think pps can ever recover from any such fall or it will be a long time, then sell all or most and plan accordingly.  But it's Wednesday in that part of the world and that doesn't leave much time.  If you can't stomach a possibe drop or even the thought of it, then act now.

I agree with your thoughts Palm.  A week later though Hession said the deal was essentially done and just being "papered".  That worries me more than whether it occurrs Friday or two weeks from Friday.  Unfortunately, I have no explanation for the discrepancy or delay (if there is one) and don't  mean to imply anything negative.  It just is what it is.  But that is what he was telling people on the roadshow, FWIW.

'sageo' pid='36678' dateline='<a href="tel:1390932 Wrote:

'ebster123' pid='36673' dateline='<a href="tel:1390929 Wrote:Getit, I believe what some take issue with is that IOC needs to learn for past experiences. The market does not like uncertainty, this is fresh meat for shorts regarding IOC. If there is any chance an expected timeline can not be met then IOC should not set or give a timeline. There was a timeline for IPI. If not met is causes potential uncertainty which is prey to shorts. We have seen this way too many times.

'ebster" -(T) - Good day to you,sir. Speaking of timelines for IPI resolution, MS on the"other board" has some thoughtful comments on this situation. IMHO also, the pps is speaking"volumes" at this moment in time. Good luck my friend.

I don't know MS and over the years he has seemed to be a whiner.  However, he is right on this one.  I bet CC is squeezing IOC for as much as he can.  This is a negotiation and the floor of the negotiation has been set by IOC and one if the analysts (I believe 200-600 million but don't hold me to that).  If CC is smart he will push for two to there times that if it is modestly worth 6 billion then the IPI % is worth 1.5 billion right.  If it were me I would not sell out cheap either...WHO WOULD???

'Palm' pid='36683' dateline='<a href="tel:1390933 Wrote:

'ltinvest' pid='36680' dateline='<a href="tel:1390932 Wrote:I understand the expectation. My first request is for him to do the best deal. That will be far more important than a day or week one way or another. Again, people that are far more familiar with these negotiations than me seem to be pleased with the process and I know there has been plenty of dialogue between the parties. Hession and team are working hard.

Yes, agree.  His words per the transcript are:

"Yes. I’m hopeful that that will be finalized no later than January and actually, let me be cautious no later than January. Let me try and continue to under promise and over deliver."

I took those words to mean he (at that time) was hoping the process would be completed this month; certainly not a "promise".  I could care less if the settlement goes into Feb to get the right deal.  In fact I am planning on it possibly not happening this week, and others should too at this point.  So with that in mind if you can't stomach a possible drop in pps (if you think that's what will happen), then trim here and buy after "the fall" or later.  If you don't think pps can ever recover from any such fall or it will be a long time, then sell all or most and plan accordingly.  But it's Wednesday in that part of the world and that doesn't leave much time.  If you can't stomach a possibe drop or even the thought of it, then act now.

palm,  my guess is you will not see this but I hope some one can share it with you.  To make a statement like MH did and then say he wants to continue to under promise and over deliver he gave the belief that this was in fact a far out  time expectation (Like CAC said).  That was not cautious and it is not over delivering.  He has a few more days and I hope he does.

'ebster123' pid='36698' datel Wrote:

'sageo' pid='36678' dateline='<a href="tel:1390932 Wrote:

'ebster123' pid='36673' dateline='<a href="tel:1390929 Wrote:Getit, I believe what some take issue with is that IOC needs to learn for past experiences. The market does not like uncertainty, this is fresh meat for shorts regarding IOC. If there is any chance an expected timeline can not be met then IOC should not set or give a timeline. There was a timeline for IPI. If not met is causes potential uncertainty which is prey to shorts. We have seen this way too many times.

'ebster" -(T) - Good day to you,sir. Speaking of timelines for IPI resolution, MS on the"other board" has some thoughtful comments on this situation. IMHO also, the pps is speaking"volumes" at this moment in time. Good luck my friend.

I don't know MS and over the years he has seemed to be a whiner.  However, he is right on this one.  I bet CC is squeezing IOC for as much as he can.  This is a negotiation and the floor of the negotiation has been set by IOC and one if the analysts (I believe 200-600 million but don't hold me to that).  If CC is smart he will push for two to there times that if it is modestly worth 6 billion then the IPI % is worth 1.5 billion right.  If it were me I would not sell out cheap either...WHO WOULD???

I think Hession is willing to give them a "future payment" based on the certification of the resource - exactly paralleling how InterOil is going to be paid.   That is "fair" and "neutral" to the current shareholders.   On the other hand, Hession may offer them an "option" which they could elect to take which would pay them more now but they would give up their rights to the unknown future payment.   Just my guess...