+- ShareholdersUnite Forums (http://shareholdersunite.com/mybb)
+-- Forum: Companies (http://shareholdersunite.com/mybb/forumdisplay.php?fid=1)
+--- Forum: InterOil Forum (http://shareholdersunite.com/mybb/forumdisplay.php?fid=4)
+--- Thread: Phil update PNG Ind news (/showthread.php?tid=890)
Pages:
1
2
- Supsup - 05-28-2012
http://www.pngindustrynews.net/storyview.asp?storyid=8684198§ionsource=s0
- Putncalls - 05-29-2012
It appears that there is another government induced delay?
- efi426hemi - 05-29-2012
The below quotes suggest to me that Shell is not the winner in the bid. If Shell was the winner, why would IOC have to meet with Duma and Rimua? They would already know and of course would immediately approve, which suggests to me someone else may be the bride at this wedding.
Just speculating of course. Health and Happiness,
efi
InterOil recently signalled an announcement on a new operator was on the cards but the latest political events in Port Moresby have caused fresh delays.
Quote:Mulacek said InterOil had successfully scheduled meetings with Duma and department secretary Rendle Rimua but it was too early to talk as PNG politics “went backwards” since the recent Supreme Court decision.
- bertl05 - 05-29-2012
Sounds correct to me Efi. Not quite sure who benefits from this snipet of a release. Puzzling wording and timing at best.
- jft310 - 05-29-2012
Yahoo says
All Phil did was confirm every rumor. Which is why the market has been moving up already. Such nonsense on this board. First, Phil gets criticized for over promising on dates..... Now he's speaking respsonsibly and properly hedging against PNG politcis and he gets criticized.
They have a deal. One that values IOC substantially higher than where it is now!
- admin - 05-29-2012
Some sharp observations here, guys.
- jake990037 - 05-29-2012
I'm with Efi and bertl on this. I can't help thinking there's nothing in this interview that warrants Phil saying anything and we'd be better off if he hadn't spoken. If PNG politics "went backwards" then it seems undiplomatic for Phil to be saying so. Pace Ken, is there anyone who doesn't already know there are delays due to PNG politics? So what's the point in the CEO repeating it if he's not referring to greater delays than had been anticipated? Can anyone surmise any positive reasons for these odd statements?
- Supsup - 05-29-2012
The article reads more like PNG news was pushing for a story, the number and brevity of Phil's quotes seem like he was saying as little as possible.
They're making every effort to keep DPM in the loop and not speak out of turn, the super majors deal with some pretty hairy sheet finding gas and oil, If the boys find a big swingin' Richard as a partner the bobble heads will all nod up and down in PNG and claim credit before voting
- admin - 05-29-2012
While I generally think it is best to be cautious with public statements, I don't think he said anything untowards here. I think quite a few of the politicians are also frustrated with the supreme court decision and the legal limbo this has created. Phil is simply stating a matter of fact.
But this too will pass. It certainly looks like they have a deal in the works and why wouldn't they hint that if they feel they're not the one delaying.
One could argue that one might have inferred as such from the market, but even so, if asked, what is he supposed to say? Nothing?
- ValueSleuth - 05-29-2012
I hope I'm wrong with this, but I suspect this government chaos induced delay excuse could well be in place for several months -- until the end of the election process, the installation of the new PM, NEC, Natural Resource Minister, a new Supreme Court, etc.
Prepare for a lot of continuing speculation until those who want their pictures taken are in place in their new government offices.
IOC is GROSSLY UNDERVALUED, but that condition may well last for quite a while. IOC officials cannot afford to make a major move without the PNG politicans all lined up in support.
VS