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HEAR, HEAR, admin!!! A very accurate statement of my own extremely strong views, except for one word: semi-legal. Naked shorting is illegal, or at least forbidden by regulations, I'm pretty sure, although I have not personally researched that. However, based on my personal research, deliberately "misleading" investors in order to influence or manipulate the price of a stock for personal benefit is forbidden by the Securities Exchange Act of 1934 and therefore in violation of securities laws, illegal, period, plain and simple; and there is no doubt that is going on and has gone on for years with IOC.
I LOVE the idea from kommonsents of filing a shareholders class action lawsuit against those sorry scum low-lifes. I'd be glad to be one of the names represented in the suit. I wonder if that would be practical and get enough participation. I'd bet we could get a firm to take it on for a contingent fee.
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I'm in, we can all discuss it in Cairns in the New Year.
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'Getitrt2' pid='13680' datel Wrote:HEAR, HEAR, admin!!! A very accurate statement of my own extremely strong views, except for one word: semi-legal. Naked shorting is illegal, or at least forbidden by regulations, I'm pretty sure, although I have not personally researched that. However, based on my personal research, deliberately "misleading" investors in order to influence or manipulate the price of a stock for personal benefit is forbidden by the Securities Exchange Act of 1934 and therefore in violation of securities laws, illegal, period, plain and simple; and there is no doubt that is going on and has gone on for years with IOC. I LOVE the idea from kommonsents of filing a shareholders class action lawsuit against those sorry scum low-lifes. I'd be glad to be one of the names represented in the suit. I wonder if that would be practical and get enough participation. I'd bet we could get a firm to take it on for a contingent fee.
Get,
No law firm would do a contingent fee for something like this. I have a different idea of resolution. How about IOC selecting a partner and getting on with it? That's really what all this is about anyway isn't it?
And btw, my spouse is a retired (read reformed) paralegal. I had to wipe her spittle off my screen when I showed her your post. She had quite a cackle over your comment.
Nothing personal Get.
Just announce a partner.
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Lib, my wife is also a paralegal, with a very large firm, as well as a shareholder, and would not react that way; so I'm not sure how much that means. I hear what you're saying, and you may be right; but what are you basing that on? Shareholders have taken the subject companies to court in such suits for securities law violations. Companies whose stocks have been hurt have taken shorts to court and won, for example Minkow, and these shorts have a hell of a lot more money than him. Why not damaged shareholders against the shorts? I strongly believe they are clearly guilty, legally and civilly (hopefully a word).
I agree what we need short-term is a formally signed PA and a deal with a new sell down partner, and that is what the Company is primarily focused on right now, not the shorts.
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The shorts have been focused on the when and paid for deliberate delays.Works till it doesn't work anymore.The weekly options have been helping them.
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12-01-2012, 09:25 AM
(This post was last modified: 12-01-2012, 10:27 AM by will2bgreat.)
Folks,
If you truely believe in the IOC story, then relax and enjoy the ride. The reason that IOC is down is the following:
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Phil has continually overpromised and underdelivered. You can blame this on several things but the bottom line is Phil has not delivered. The shorts see IOC like a company that has not made a profit but continues to grow via acquisitions. IOC is the same, growing via additional discoveries but has yet to successfully monetize their discoveries.
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The other big issue is if PNG is taking 50%, is that going to limit the cash received upfront?
I believe in IOC and Phil. Basically Phil has made mistakes but is an honest person that is trying to do the right things for the shareholders and himself. I believe he will eventually get the deal done. Everything else is noise. I mean, can you tell me one good arguement that the shorts have left?
Investing in IOC is like playing poker; everyone is betting and you look down and see you have pocket aces (natural gas in IOCs case). If you truely believe in IOC you don't complain about the betting, you like it, because at the end you all have to show your cards and you have a great hand. If you don't like the betting, maybe you don't believe in IOCs hand. As for the stock downturn, as my late mentor said, once you sit at the table to play poker, the chips are no longer money. And once you start thinking of these chips as money, you are destined to loose them all. Very similar in our IOC investment, sit back and ask yourself what has changed? In my opinion, nothing and therefore all of this decline is pre-flop bluffing.
Good luck longs.
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will2, it's difficult to reach detailed conclusions about item 2 right now with the level of uncertainty there, but I don't think it really is a big issue. The shorts are certainly trying to exaggerate the uncertainty and distort it and make it perceived as a big negative issue, like most things. The up front could be significantly affected by what arrangements are worked out with PNG on their interest in E/A, but the total net inflow before and into early production I think could actually be more with this deal. Read my detailed comments elsewhere in other threads on the sell down deal and PNG's position and obligations in it, including development costs, CSP investments, and purchase of equity above 22.5%, and consider that they have huge new financing from China. They will not be participating in the first LNG plant for even their 22.5%, which portion therefore will not need to be carried by IOC or its other partners. The new partner(s) will still be acquiring significant interest in E/A and paying a portion up front. Also, IOC is likely to be monetizing more gas and liquids sooner with the production of gas for the domestic market and any other PNG projects in addition to the gas for the first phase of IOC's LNG plant.
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'Getitrt2' pid='13685' datel Wrote:Lib, my wife is also a paralegal, with a very large firm, as well as a shareholder, and would not react that way; so I'm not sure how much that means. I hear what you're saying, and you may be right; but what are you basing that on? Shareholders have taken the subject companies to court in such suits for securities law violations. Companies whose stocks have been hurt have taken shorts to court and won, for example Minkow, and these shorts have a hell of a lot more money than him. Why not damaged shareholders against the shorts? I strongly believe they are clearly guilty, legally and civilly (hopefully a word). I agree what we need short-term is a formally signed PA and a deal with a new sell down partner, and that is what the Company is primarily focused on right now, not the shorts.
Get,
My point is simple. While we're all upset with the tactics of shorts why go to through the legal system and have them siphon profits when we can have them in the very near term? Besides the lawyer you would wind up with would most likely be the earliest equivalent of My Cousin Vinny. And if IOC wanted to take this on they would have gone after Minkow a long time ago.
It's time to focus on monetiztion. I'm sick of shorts and tactics. It's deal time, let's have it.
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On the August 14 th CC they stated in next several months and on the last CC Nov 15th they stated in next few weeks we expect to complete a sell down. WEEKS. Wait it out.
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Jft great minds think alike. I posted that exact response in one of the other threads...weeks means before EOY in my opibion
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