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+--- Thread: Phil M. RETIRES!!!!! (/showthread.php?tid=3454)
Phil M. RETIRES!!!!! - ebster123 - 04-23-2013
Just came across my Scottrade account
"News for 'IOC' - (*DJ InterOil Corporation Announces The Retirement Of CEO Phil Mulacek >IOC)"
something big is bout to happen!!!!!!!
RE: Phil M. RETIRES!!!!! - ebster123 - 04-23-2013
PORT MORESBY, Papua New Guinea and HOUSTON, April 23, 2013 /PRNewswire via
COMTEX/ -- InterOil Corporation (NYSE:IOC) (POMSoX:IOC) ("InterOil") today
announced the retirement of its founder and Chief Executive O fficer, Phil
Mulacek, effective April 30, 2013. Mr. Mulacek will continue as an InterOil
director and will provide advisory services to the Company. A global search is
now underway for a new CEO to lead the Company through its next stage of
development. InterOil Chairman, Dr. Gaylen Byker, will assume Mr. Mulacek's
duties on an interim basis from May 1, 2013 until the search process is
complete.
"Phil Mulacek is a remarkable visionary, engineer and entrepreneur who built a
successful integrated oil and gas company from a concept to an NYSE-listed
company with a US$3.5 billion market capitalization. Mr. Mulacek pioneered
InterOil's exploration activities in the Gulf Province of Papua New Guinea (PNG)
that resulted in the discovery of the Elk/Antelope and Triceratops fields which
contain in total a best case estimate of 1.6 billion BOE of contingent
resources," said Dr. Byker. "This is an unusual feat, seldom accomplished in any
fi eld. We are thankful for Phil's many years of dedication and hard work, and
pleased that he will advise the Company as we continue our very successful
exploration program and work to finalize our LNG partnership arrangements with
the PNG Government and an internationally-recognized LNG operator."
Mr. Mulacek said, "I am grateful for the opportunity to have led InterOil from
its humble beginnings in 1997 through the discovery of world-class natural gas
and condensate resources at Elk/ Antelope and Triceratops and now working
towards the final selection of our LNG partner. It has been my privilege to work
with all of our InterOil employees, associates, partners, and with the people of
PNG through the years, with many of whom I have developed long-term
friendships."
About InterOil InterOil Corporation is developing a vertically integrated energy
business whose primary focus is Papua New Guinea and the surrounding region.
InterOil's assets consist of petroleum licenses covering about 3.9 million
acres, an oil refinery, and retail and commercial distribution facilities, all
located in Papua New Guinea. In addition, InterOil is a shareholder in a joint
venture established to construct an LNG plant in Papua New Guinea. InterOil's
common shares trade on the NYSE in US dollars.
RE: Phil M. RETIRES!!!!! - Optionray - 04-23-2013
'ebster123' pid='21207' datel Wrote:Just came across my Scottrade account
"News for 'IOC' - (*DJ InterOil Corporation Announces The Retirement Of CEO Phil Mulacek >IOC)"
something big is bout to happen!!!!!!!
That is big! Something is definitely up. How do you think that will play out in the Market today? I can see two sides (a good and a bad) to this news. Never a dull moment with IOC. My bet, there will be a lot of investors glad. On the other hand, the uncertainty may give the shorts a little traction. My vote, up big today!
RE: Phil M. RETIRES!!!!! - Palm - 04-23-2013
My, my, I wonder what this could mean. Hohoho. Phil has done a remarkable job and will be able to do whatever he wants once things are complete.
RE: Phil M. RETIRES!!!!! - Optionray - 04-23-2013
'ebster123' pid='21207' datel Wrote:Just came across my Scottrade account
"News for 'IOC' - (*DJ InterOil Corporation Announces The Retirement Of CEO Phil Mulacek >IOC)"
something big is bout to happen!!!!!!!
I guess without a salary, he better hope for share price appreciation 
RE: Phil M. RETIRES!!!!! - ebster123 - 04-23-2013
Would be neat if IOC spun off some of the prospects to a new company and Phil ran that while T2, E/A and some others are boughtout...time will tell
RE: Phil M. RETIRES!!!!! - cybersssss - 04-23-2013
This seems to me that it may have been a deal contingency...Phil woould not step down unless big $ was involved. I believe the chances that we will see a total buyout have just increased significantly.
RE: Phil M. RETIRES!!!!! - Palm - 04-23-2013
Very doubtful Ebster. Interesting thing will be to see who else may retire before long. Heck, maybe we'll all be able to retire!
RE: Phil M. RETIRES!!!!! - Palm - 04-23-2013
Fact that he's staying on as a director and advisor is a good thing. Nice reward for his hard work.
RE: Phil M. RETIRES!!!!! - will2bgreat - 04-23-2013
'Optionray' pid='21209' datel Wrote:
'ebster123' pid='21207' datel Wrote:Just came across my Scottrade account
"News for 'IOC' - (*DJ InterOil Corporation Announces The Retirement Of CEO Phil Mulacek >IOC)"
something big is bout to happen!!!!!!!
That is big! Something is definitely up. How do you think that will play out in the Market today? I can see two sides (a good and a bad) to this news. Never a dull moment with IOC. My bet, there will be a lot of investors glad. On the other hand, the uncertainty may give the shorts a little traction. My vote, up big today!
Any speculation on how much of E/A is going to be sold?
Good luck longs