Feb 28th-March 11 ish

[jft310]

These are when some news will come out as regards the IOC bids,and bidders.

The bids are due Feb 28th and I would be surprised if we didn't hear something from IOC as to the number of bidders, maybe the names

and some general comment about size of the bids. Wayne Andrews kept the market abreast at IPAA with such an update.

On March 6th Wayne Andrews will speak at RJ and he needs something to say.Bid talk has to be an item on his talk list.

The IBers asked for more time to properly prepare the bids and they will present March 11th an analysis of the bids. Lots of different ways

the bids can be put together and comparisons aren't simple thus the time demand. Please refer to Doublebagger/Treasure Hunters

comments about the level of DD needed by the IBers .

So we know we have 2 SMers, 1 NOC and 1 Utility as bidders so far. How many more will we get???

I can't see how the shorts can cover without losing lots of money.

[will2bgreat]

These are when some news will come out as regards the IOC bids,and bidders.

The bids are due Feb 28th and I would be surprised if we didn't hear something from IOC as to the number of bidders, maybe the names

and some general comment about size of the bids. Wayne Andrews kept the market abreast at IPAA with such an update.

On March 6th Wayne Andrews will speak at RJ and he needs something to say.Bid talk has to be an item on his talk list.

The IBers asked for more time to properly prepare the bids and they will present March 11th an analysis of the bids. Lots of different ways

the bids can be put together and comparisons aren't simple thus the time demand. Please refer to Doublebagger/Treasure Hunters

comments about the level of DD needed by the IBers .

So we know we have 2 SMers, 1 NOC and 1 Utility as bidders so far. How many more will we get???

I can't see how the shorts can cover without losing lots of money.

jft, where did you here the IB's needed another week?  Are you hearing anything about the resource estimate and when it comes out?  IOC could announce the new estimate before the deal, say on the 6th, and push the stock price up higher or wait until after the deal announcement and push the stock higher.  I think it would have more impact on the stock price if they announce before the deal.

Any thoughts?

Good luck longs.

[Petro2458]

Thanks for the insight. I do find it incomprehensible that IOC would tell the market they would be meeting with the BoD in the first week of March without having fully thought through the selection process. I'd even go so far as to say it would be a stupid move to put that in a press release if they weren't 100% sure of being able to meet this date.

[ArtM72]

I suppose they may have received substantial non conforming bids from unexpected quarters that might demand the additional time. If so, it certainly would make sense and be appropriate to state as much in an initial release immediately following closing of the bids. e.g. if somebody came in at $5/mcf for the whole of 3tops and E/A would anyone not want to get that checked out, even if it takes another week?

WA doesn't need to give us the whole meal on 3/1, but a few hors d'oeuvres would be nice, much better than crumbs cast back along the trail.

This ad says it best....

http://s154.beta.photobucket.com/user/ma...u.mp4.html

[Petro2458]

Non-conforming will not be more difficult to analyze.

Trust is all we have in this shareholder/company relationship. When they say they are going to meet in the first week of march To select a partner I expect that to happen...no exceptions.

[ebster123]

Petro, I have to agree. To wait until the last minute and delay again without proper explanation will be a field day for shorts to cover. The stock would plummet and cover they would. There would need to be transparency and if there was it is likely buyers would come in to soften the delay. Time will tell....

[Tree]

Non-conforming will not be more difficult to analyze. Trust is all we have in this shareholder/company relationship. When they say they are going to meet in the first week of march To select a partner I expect that to happen...no exceptions.

Actually Petro,  PR stated it differently than you portray.  That little word 'intends' left wiggle room for contingencies and or short delay.  Acceptable with a proper explanation I'd say.

..."Separately, InterOil announced that it has advised bidders with which the Company has been in discussions that the final binding bid solicitation period for the partnering process currently being undertaken will close on February 28, 2013. The InterOil Board of Directors intends to meet the Company’s advisors during the first week of March 2013 for the purpose of evaluating bids received and selecting our partner(s) for the development of the Gulf LNG Project utilising gas from the Elk and Antelope fields in Papua New Guinea."

[jft310]

It's march 11 th for the Board meeting and it will be explained to the market properly. The shorts when they cover must buy IOC shares so the IOC price will rise.
The way it's explained can be quite bullish or less than a week more for short crapola

[CAC]

Non-conforming will not be more difficult to analyze.

****************

And the possibility of getting last minute nonconforming bids should not be at all unforseeable to someone in his positiion.  So why, yet again, intentionally provide a specific date for the public to chew on?  Did anybody make him volunteer that it would take place "the first week in March"?

There's a Yazoo thread listing all his reassuring quotes over the years.  The list of predicted accomplishment dates that they have been volunteered, but unmet, is long.  I'd like to see a more thoughtful PR strategy.  If nothing else, stating "the first week in March" (instead of using a more artfully worded phrase) shows he doesn't learn very well from his mistakes.

That being said, nobody will care about (or even remember) the PR stumbles if the end result is what we all hope it will be.

[ArtM72]

"The InterOil Board of Directors intends to meet the Company’s advisors during the first week of March 2013 for the purpose of evaluating bids received and selecting our partner(s)"

I don't see anything in this quote that says a selection will be made in the first week of March, only that evaluations will occur. That's pretty clear wordsmithing in my mind. If someone is predisposed to see this as a promised date then so be it.

As far as the "list" on Yazoo goes the importance of the timing in my mind is far less important than the successful accomplishment of the tasks at hand. (I quit buying calls long ago) More important still is the success achieved in discovery and the incredible safety record where millions of hours have gone by since their last lost time accident. Those two issue carry far, far more weight in my book.