Ontario Securities Commission

[Palm]

Gotcha, no problem

[oliver.gump]

Gotcha, no problem

Thanks for being gracious.

[Stavros]

Chandler SOLD his remaining IOC shares in the low- / mid-$40's via Calio/ MS.

MS concurrently unloaded those shares to Point72 and others.

In addition, at the same time, MS were advising OSH when Woodside made their buyout attempt.

I suspect that's when MS and Botten put the plans in motion to merge with IOC, and approached IOC via MS.
Is MS complicit in the rape of IOC Shareholders?

Chandler's IOC sales and Cohen's buy's: http://www.bloomberg.com/news/articles/2...-firm-buys

QUOTE

Billionaire Richard Chandler’s company sold its stake in InterOil Corp., while the firm that manages Steven A. Cohen’s $11 billion fortune acquired shares in the Papua New Guinea-focused explorer.

Chandler Corp.’s Orchid Capital Investments unit no longer holds any InterOil stock, according to a filing dated Tuesday. Orchid said earlier this month that it had sold about 6.1 percent of the Singapore-based company at an average price of $45 a share, leaving it with 9.9 percent.

END QUOTE

The IOC share price leading up to Chandler's sale was:

$58.5 on July 2
$46.5 on July 17
$43.6 on July 23
By August 21, it was down to $34

Chandler's average BUY price, as best I can determine, was in the mid- to high- $60's.

Check out this THREAD that was on SHU in September 2015: In hindsight, this is when OSH and IOC details were hammered out:

http://shareholdersunite.com/mybb/showth...t=movieguy

[oliver.gump]

6.11 Insider  Trading Policies and Blackout Periods

Adopt an insider trading policy that provides for a senior officer to approve and monitor the trading  activity of your insiders, officers and senior employees.  Your inside trading policy should prohibit purchases and sales at any time by insiders and employees who are in procession of material nonpublic information.  Your policy should also provide for trading "blackout periods" when trading by insiders, officers and employees may typically not take place.(for example a blackout period which surrounds regularly scheduled earnings announcements.)  However, insiders, officers and employees should have the opportunity to apply to the company's trading officer for approval to trade the company's securities during the blackout period.  A company blackout period may mirror a quite period described above.

At first blush, I do not see how Interoil could be in a conservative consideration of compliance, as there is no senior officer than the CEO, for definitions of trading officer approval.

Some where there is a legal eagle who knows all the relatives.

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Seems that since 13th June, Mike Hession has recieved $9,122,920 in vested RSU's, what a great way to get paid.!!!

2016-06-13, 160,697 RSU's @ $42.58

2016-07-05, 48,294 RSU's @ $47.22

Total: US$ 9,122,920

[jft310]

Not rocket science multiple sales as I stated earlier . Not fair for anyone to pick out one lot and declare that the price .

[oliver.gump]

Not rocket science multiple sales as I stated earlier . Not fair for anyone to pick out one lot and declare that the price .

It is fair when those shares are paid for out of the remaining shareholders equity, and give to someone that clearly does not have the shareholders intrests at heart.

Hession has been given over $9mm since the day prior to the AGM. This is part of his "Change of Control" bonus, and part of the "Exploration Bonuses" for Bobcat, Raptor, Wahoo, and TT, assets that are now being given away FOR FREE.

If the best negotiation Hession could do for Bobcat, Raptor, Wahoo, and TT, is a net value of zero dollars, why is he entitled to an exploration bonus for those leases that he and the BOD has now deemed worthless?

[Libtardius Maximus]

Good point Oliver. I have often wondered about how Hession could be entitled to an exploration bonus and then give it away.

[steve3752]

Good point Oliver. I have often wondered about how Hession could be entitled to an exploration bonus and then give it away.

Because he  fiiled the board with his buddies who  created an employment contract and  compensation system where there was a conflict of interests between shareholders and management.

The Board breached their fiduciary duty to shareholders when they negotiated his contract and continued this from year to year.

[cybersssss]

Hession has breached his fiduciary obligation to the company and shareholders. Everything he did was ONLY for his personal financial gain. Everything form the bs exploration finds with non commercial gas to selling the company early and cheap so that he gets his early exploration bonus.

What baffles me is how he thought he was going to get away with this. Perhaps he will. Most likely he will not. I think that this is a very easy case to prove. We shall see