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+--- Thread: Chris DeMuth Rangeley Capital (/showthread.php?tid=8063)
Chris DeMuth Rangeley Capital - admin - 01-15-2015
He wrote an earlier article on IOC as a short, arguing it's worth under $10 a share and he published an update. I can't quote literally, but among the things he argues is:
- They are in the process of marketing their stock to potential investors
- For which the PNG environment is "perfect" it's geological formations have "relatively small pockets of natural gas under very high pressure", creating "terrific flaring for IOC business updates"
- He "does not expect there to be enough gas for total to proceed with the project"
It sounds like stuff bostonkenmore would make up. Of course, this guy doesn't have any background in oil and gas and there is absolutely ZERO substantiation for this stuff. We have several resource evaluators rubbishing him already.
One does need a SA Pro subscription to read the nonsense.
RE: Chris DeMuth Rangeley Capital - jft310 - 01-15-2015
PET can crush him. If has time .
Public IOC documents from Laurie Brown blow away his nonsense also .
RE: Chris DeMuth Rangeley Capital - admin - 01-15-2015
It is sort of the brazen nature of it all that took me aback a bit, I have to admit.
As if Total didn't sign a SPA, and forked over hundreds of millions, as if OSH didn't fork over almost a billion for Civelli's stake, as if we have no resource evaluation reports from GLJ, Gaffney Cline, as if we have no 5 out of 5 discoveries lately.
And he puts these claims simply as a matter of fact, without any substantiation.
It's still the old bostonkenmore song that it's all fake and promo.
He has a pretty substantial following on SA though and he's obvious no idiot, which leaves only one obvious alternative, IMHO.
RE: Chris DeMuth Rangeley Capital - admin - 01-15-2015
We do not expect there to be enough gas to incent TOT to proceed with this project. TOT was wise in the way that they structured this deal. They will do their own work in evaluating whether it is worth proceeding.
InterOil Increases Production... - InterOil Corporation (NYSE:IOC) | Seeking Alpha
Yes, that makes sense. Total paid $401M plus 3x what? $50M just to assess the resource but expecting, like Chis, it won't have enough gas for even a single train?
How stupid is that?
How stupid must OSH be paying $900M for Civelli's stake?
Or could it be these companies know a little more than Chris DeMuth about the situation..
RE: Chris DeMuth Rangeley Capital - jft310 - 01-15-2015
Chris is like other SA writers just tries to scare people out of stocks . Buys puts then issues report .
It's why SA has major issues .