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Blair Price blames readers - calaban48 - 09-21-2012
Thursday came and went without any "important announcement" by InterOil. Is Blair Price of PNG Industry News sorry he reported that quoting unnamed sources? Nope. In fact, it's the readers' fault for believing his stuff: "It should be noted that there were some posters on certain message boards who also suspected a big announcement was coming Thursday and these claims were made before our recent report," Price writes today. (Would think an industry journal would want to be more prudent than anonymous message posters.)
Price adds: "In regards to some of the comments made against the site and its editor, PNGIndustryNews.net is hopeful that some InterOil stock traders, if they are not being disingenuous, become smart enough to know that a claim attributed to a source does not mean it is made by the reporter who wrote the story."
Yeah, right. Credibility: nil. The link: http://www.pngindustrynews.net/storyview.asp?storyid=9637890§ionsource=s0
RE: Blair Price blames readers - Bincbanker - 09-21-2012
I did indeed hear from more then one "good source" that Thursday would be a NEC day with a favorable outcome
I agree with Blair that by now I should know better , I was one of the first to post on The obvious pumping by the intended consortium , but his clever use of the ; O'Neill China trip and mentioning of CNOOC makes him guilty as sin
RE: Blair Price blames readers - Palm - 09-21-2012
Interesting thing is that he reads these message boards. Amazing when you think about it. Seems journalism has gotten too wrapped up in the social media just like too much of the world in general. Stories are far more important than factual stories.
RE: Blair Price blames readers - Bincbanker - 09-21-2012
agreed palm , interestingly enough is that everyone is willing to misuse us too
I have a strong feeling that between now and sell down we will see more "pumping" too bad GS is not participating they are masters at it
The pumping has one goal to keep the PPS high as a safe guard against low ball Bids and take over moves , IMO
I have seen this all before and it will get worse before it gets better
RE: Blair Price blames readers - Tree - 09-21-2012
Price is not alone in trusting informed sources in IOC 'timing' matters. Remember Calio a couple of years ago this Dec.? Reality is, only Phil, Collin and possibly Byker know the daily status of all negotiations. And these guys aren't talking. All other 'sources' come from the perspective of a bidder camp or possibly from an IB, but none of these sources, even the PNG departments, are privy to what IOC negotiators know.
It's kind of amazing that Price felt the need to defend what he reported as he clearly qualified it as from a source, a source which had a record of accuracy. I'd rather hear all than not.
RE: Blair Price blames readers - admin - 09-21-2012
Huh? Did anyone here argue there would be a big announcement yesterday? I think I would have noticed. I've seen hints that NEC approval might be soon ("any day") but that's about it. It was Blair who came with a rather convoluted story about "IOC was trying to sell half the project to PNG" which seems a rather weird idea, to put it mildly.
Anyway, it's simply a matter of when, not if, so I guess some people get overly focused on the when now.
I say it's simply a waiting game, but agreed, that's much less exciting. But the odds are better..
RE: Blair Price blames readers - Palm - 09-21-2012
The thing that Price and others should realize is that we are not talking about the market for everyday common stuff; we're dealing with energy sources for nations; things wars are fought over and where most anything goes in the development, buying and selling of that energy source. A publication like PNGIndustry News ought to be about getting things right and using credible sources and doing some real fact-finding. Projects like this one are hugely important for PNG and to have government officials and companies involved in the projects constantly having to deal with stories that are written is a bit nuts. Knuckleheads like us and those on Yazoo, etc shouldn't be relied upon as credible sources upon which stories are written. The stuff that is posted on MBs usually has a very ST effect if any on pps. A story in an industry publication ought to be able to be relied on by the public and investors. Another case of TMI which is mostly noise. He ought to be more about having regular sit-downs with people regularly involved to get what facts he can, then sifting the noise. Seems every time you think one of these writers is someone you can rely on, they let you down. In the end they become a reflection of the MBs and other "noise" sources and end up not being any more credible. So traders know if they want a quick pop or drop in pps, they can plant a source/story and with the national interests involved it moves pps. Just adds to the circus that the financial markets have become.
RE: Blair Price blames readers - ValueSleuth - 09-21-2012
The Price story was so weird in parts that they seemingly could have been composed late at night from a wireless hook up at the local Tiki bar.
Certain of the ideas seemed so far fetched that the were not only from left field, they were from the left field stands, composed by drunk patrons.
VS
RE: Blair Price blames readers - admin - 09-21-2012
Well, yes, that's all very reasonable, Palm. But these journalists have papers to fill, at the minimum..
The simple fact is that there isn't a half credible argument anymore why things should not happen, now that the politics has sorted itself out. That was the one remaining big uncertainty hanging over it. The rest is just noise and amusement, although perhaps not for the option traders.
RE: Blair Price blames readers - Tree - 09-21-2012
The title of his piece today ...."Day traders beware: comment"....and the pic of Sussman jumping off a cliff, chosen for it are both odd. Apparently he received much crap from traders that lost their asses trading on what he reported hearing.