Phil Speaks on Retirement

[Brew Swillis]

"It amazes me how much hate exists for this guy..."

Short/basher meme that too many bought into. Clearer minds have always known better. Patience is a virtue, guess I was born with an abundance like most SHU longs.

[Tree]

Like I said before, you should write a strong letter of protest to Pavel and all the other publications and people who argued he was becoming an obstacle. You might also take into consideration that what CEO's say about their own departure often has to be taken with at least some salt, but perhaps this is the exception. As I've already argued, there can be no doubt about the tremendous job he's done, he created a $4b company out of thin air in a a remote, frontier country, the world needs more Phil's. But as to exactly why he left, let's just say there is more than one interpretation possible, including his own, including that of RJ. Of course I'm just admin and I don't have a subscription to "philstar", whatever that is.

Here's a bet STP.  I say Phil's version of retirement is the official record not your 'sources' and the printed conclusions of others on the outside.  You say otherwise.

 If Phil is lying here in this interview IOC will have no choice but to set the record straight, relieve Phil of his Board seat and sever ties with him immediately and IOC will need to do so immediately before Phil can spread more lies.  Good luck with your side of the bet.

[jft310]

Best to leave this all alone. There are few persons in the world that know the exact details and it just doesn't matter. What matters is a deal with a Super Major quickly. Nada else is really important.

[admin]

Like I said before, you should write a strong letter of protest to Pavel and all the other publications and people who argued he was becoming an obstacle. You might also take into consideration that what CEO's say about their own departure often has to be taken with at least some salt, but perhaps this is the exception. As I've already argued, there can be no doubt about the tremendous job he's done, he created a $4b company out of thin air in a a remote, frontier country, the world needs more Phil's. But as to exactly why he left, let's just say there is more than one interpretation possible, including his own, including that of RJ. Of course I'm just admin and I don't have a subscription to "philstar", whatever that is.

Here's a bet STP.  I say Phil's version of retirement is the official record not your 'sources' and the printed conclusions of others on the outside.  You say otherwise.

 If Phil is lying here in this interview IOC will have no choice but to set the record straight, relieve Phil of his Board seat and sever ties with him immediately and IOC will need to do so immediately before Phil can spread more lies.  Good luck with your side of the bet.

It's not what I said. What I said is that there are mutliple versions of the same event. Phil's own, but there are multiple sources, credible ones, like RJ, Westlake, other publications that have a different interpretation. I only know that I don't know (I don't have Philstar..), which include me not being able to discard Pavel out of hand. It's also not out of the extraordinary for CEO's to give a somewhat polished version of their own departure, but I have no way of knowing whether that's the case here. I'm merely dealing in probabilities, not absolute truths.

But of course you know better, including what I said or really mean...

I'll side with JFT here. Best left alone this one.

[CAC]

Like I said before, you should write a strong letter of protest to Pavel and all the other publications and people who argued he was becoming an obstacle. You might also take into consideration that what CEO's say about their own departure often has to be taken with at least some salt, but perhaps this is the exception. As I've already argued, there can be no doubt about the tremendous job he's done, he created a $4b company out of thin air in a a remote, frontier country, the world needs more Phil's. But as to exactly why he left, let's just say there is more than one interpretation possible, including his own, including that of RJ. Of course I'm just admin and I don't have a subscription to "philstar", whatever that is.

Here's a bet STP.  I say Phil's version of retirement is the official record not your 'sources' and the printed conclusions of others on the outside.  You say otherwise.

 If Phil is lying here in this interview IOC will have no choice but to set the record straight, relieve Phil of his Board seat and sever ties with him immediately and IOC will need to do so immediately before Phil can spread more lies.  Good luck with your side of the bet.

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Lying?  Is that an accurate characterization of what Admin said?  Jeesh.

I actually think Phil's comments raise more questions than they answer.  Human nature provides an inherent incentive to be somewhat self-serving.  I am dubious about his statements that this was planned a long time ago, and has nothing to do with pressure from an outside source or with disagreement with the Board on future direction.  He makes it sound like he's stepping down from the company he loves, right before the deal he's been working on for years is consumated, out of an altruistic concern for how the yet-to-be-identified successor's legacy will be viewed.  Hmmm.  

If true, why the coincidental timing of the announcement immediately following an important Board meeting?  Why the extremely short notice?  And most telling, why wouldn't IOC have also given a roses and lolipops explanation for Phil's departure and specifically state it had nothing to do with deal negotiations?  What they chose to say was..Mulacek’s retirement was a part of the process to bring in a strategic partner to operate the Elk-Antelope field.  I think Admin's conclusion seems most logical. 

[ltinvest]

Like most things in life, the truth probably lies somewhere in the middle. If you interviewed everyone in the Board Meeting, I suspect you would get several different versions of what transpired. Phil may very well have been contemplating "retirement" for various reasons. The Board may have felt a change was necessary to pursue the path they see as most appropriate going forward. These decisions are not made in a vaccum and not made in split second.

I applaud Phil for incredible accomplishments and I'm quite confident management and the BOD will monetize resources in a manner thats substantially accretive to shareholders in the near future. And I'm very eager to see what role IOC will have in exploring and drilling future prospects and hopefully in an accelerated manner. There's a whole lot more gas there!!

[Tree]

You are trying to size an iceberg from the visible tip CAC. Enough said.

[ebster123]

"I was retiring so that I can focus on my private company after we get the LNG [transaction] closed, and help InterOil as a director and chair certain strategic committees that I enjoy,” Mulacek told PNGIndustryNews.net. "

Wouldn't it be grand if the "private comapny" is actually the holding company of all of the "unproven leads" that Phil can start all over again with the leads. Great if IOC shareholders as part of a buyout of E/A and T2 get shares in the SM who buys IOC and Shares in the new company that holdes the remaining leases. One can dream and....time will tell

[jft310]

Ebster-Fascinating idea. Who knows if Phil extracted a price for resigning?? I would invest with him again!

[CAC]

You are trying to size an iceberg from the visible tip CAC. Enough said.

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

I seem to recall from high school classes long ago that there is a constant percentage of floating ice (maybe 10%?) that predictably remains above water level.  So, sizing an iceberg from the visible tip is actually quite doable.