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+--- Thread: Judging Dr Hession (/showthread.php?tid=5891)
Judging Dr Hession - jft310 - 01-27-2014
I ask these simple quesions
1) When Hession arrived the expectations for a deal were set and Confidentiality Agreements were in place. There
is simply no way for him to have reset the bar without a breach of those Confidentiality Agreements . To cast blame
aim the gun at the right target Phil Mulacek . He set the bar . Wayne Andrews was not privy to the deal detail negotiations.
What could he have done differently.?
2) To measure Hession performance against Phil Mulaceks lack of performance is patently absurd. Measure Hession
against his bar expectations. He promised us a good deal in a prompt fashion by a certain date and we got it. His next
promise is to settle the minority interest by Jan 31st 2014 , he never said he would announce it early. Third he has
promised us a closed deal by March 31st 2014 .
What promise has Hession made that he has not delivered on?
The management team has been replaced mostly all except Wayne, with LNG experienced plant builders.
Let them do what they did over and over again at Woodside . See the Prelude project.
Hint: Phil Mulacek is gone as are most of the other executives . Time to look forward .
RE: Judging Dr Hession - ebster123 - 01-28-2014
'jft310' pid='36593' dateline='<a href="tel:1390830 Wrote:I ask these simple quesions
1) When Hession arrived the expectations for a deal were set and Confidentiality Agreements were in place. There
is simply no way for him to have reset the bar without a breach of those Confidentiality Agreements . To cast blame
aim the gun at the right target Phil Mulacek . He set the bar . Wayne Andrews was not privy to the deal detail negotiations.
What could he have done differently.?
2) To measure Hession performance against Phil Mulaceks lack of performance is patently absurd. Measure Hession
against his bar expectations. He promised us a good deal in a prompt fashion by a certain date and we got it. His next
promise is to settle the minority interest by Jan 31st 2014 , he never said he would announce it early. Third he has
promised us a closed deal by March 31st 2014 .
What promise has Hession made that he has not delivered on?
The management team has been replaced mostly all except Wayne, with LNG experienced plant builders.
Let them do what they did over and over again at Woodside . See the Prelude project.
Hint: Phil Mulacek is gone as are most of the other executives . Time to look forward .
correct to to an extent. WA knew what Phil promised and should have counseled MH on how to the right the ship if not likely to be able to fill the expectation (WA would not have needed the deal negotiations to do this). Also, MH is the one that spoke about IPI and Jan 31st. I hope he still follows his under promise and over deliver. Time is coming close on the IPI deal. Time will tell...
RE: Judging Dr Hession - jft310 - 01-28-2014
Ebster-Good points, But even if WA told Hession what Phil promised ,Hession was covered by the Confidentiality Agreement and public discussions about the price would not be allowed. No price discussions would be allowed in fact.
The minority buy back is tied to PNG govt approval. No need to buy back the minority interest without a written agreement with the PNG govt. Duma promised a fast track on Govt Approvals and an NEC vote last week per the interview several week ago.
The first news could be some type PNG govt approval. Then minority buy back.
RE: Judging Dr Hession - ebster123 - 01-28-2014
They could put something out that Phil's expectations were too high (in a more fiscally correct manner). Regarding Duma and IPI, under promise and over deliver would be to not mention this or mention it to be completed in a manner that will allow IOC to succeed. IF IOC does not follow through by 1/31 expect another slam to the pps and this will be two strikes as perceived by the market and more moving to the IOC business as usual, different faces and same BS. Not my take but it will be the markets.
RE: Judging Dr Hession - jft310 - 01-28-2014
The Confidentiality Agreements were signed before Hession came on Board. That would include, names of bidder, terms and closing discussions.
RE: Judging Dr Hession - Thylacine-2 - 01-28-2014
Negotiations were going on with a number of bidders. IOC was trying to get the best deal. How could expectations have been reset without impacting our bargaining position?
RE: Judging Dr Hession - jft310 - 01-28-2014
Thy-you are correct should be common sense if one reflects on it.
RE: Judging Dr Hession - Kaliboo - 01-28-2014
It would reflect much better if MH would deliver as if he were in control and not rushing and inadequately prepared. This feels like the last time except this is even closer to the wire. Not reassuring at all to shareholders. This is not UP/OD. It's called barely delivering on time if he delivers this week.
RE: Judging Dr Hession - vidon - 01-28-2014
I recall Hession said we would spud Wahoo in Nov 2013.
I recall Hession said communications to shareholders, stakeholders, and the market would be clear and transparent.
I can not say he actually promised the IPI would be done by end of Jan. but he sure did intimate it.
Let's hope he makes an announcement soon or I agree the PPS will take another big hit. I believe the brotherhood of shorts would pounce on a non deal with both feet and lots of short selling.
RE: Judging Dr Hession - sageo - 01-28-2014
'vidon' pid='36626' datel Wrote:I recall Hession said we would spud Wahoo in Nov 2013. I recall Hession said communications to shareholders, stakeholders, and the market would be clear and transparent. I can not say he actually promised the IPI would be done by end of Jan. but he sure did intimate it. Let's hope he makes an announcement soon or I agree the PPS will take another big hit. I believe the brotherhood of shorts would pounce on a non deal with both feet and lots of short selling.
'vidon' - your thinking sure has my vote of agreement.If "nada" this week,we will have to 'grab our socks' (again) next week. Sure would like 'clear and transparent' this week.