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Agree, agree, agree Tree. And Hession once said something like, "I will not hold negotiations in a public forum." We've heard what we'll hear until it is announced. Hession knows the real deadline and so does CC and the rest of the IPI investors. It's in time for the deal to close with Total and get license extensions from DPE. If CC decided to play hardball, he saw the Jan 31 comment and is pressing it hoping to get Hession to cave. Won't happen. Like you say, the real deadline is what will bring resolution. Negotiating is not a one-party process.
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To expect new management to read this board on a regular basis is naive. A few of old management did but daily changes are being made to centralize things in Singapore and streamline operations and work on deals. Raising issues here is not the way to reach management. There are and have been channels for that. Many of us use THOSE channels to talk to management through IR. But again, IR admits knowing less of the day to day things than before. And that's how it should be.
We have an activist shareholder; Chandler. He once took on Gazprom and some very powerful Russians. In the end he sold, but he takes the role seriously. He has access that none of us do and I'd bet he raises much more to management through the BOD than we even think of. A couple of people have reached out to his organization and received responses. But the last thing they'd want is a mass of SHU-ites inundating them daily. Use channels as they are intended, but the "Interoil Forum" is not one of them.
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Here's an article summarizing today's PR. Sounds kinda bullish.
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InterOil expanding operations in Papua New Guinea
Published on Wednesday, 29 January 2014 05:27
InterOil Corporation today announced the relocation of core functions from its 100-person office in Cairns, Australia, to support expanding operations in Papua New Guinea . The Cairns office will close by the end of the year.
InterOil noted the decision to increase capacity in PNG comes as the company is finalizing an agreement with Total S.A. of France to develop a multi-billion dollar LNG project in PNG. Work continues on completing the Total agreement by the end of Q1 2014, including the buy-out of minority interests.
InterOil's Chief Executive Officer, Dr. Michael Hession, said the relocation of core functions would put resources where they are most needed. "PNG is our base, and where all our activities are, including exploration, refining, and distribution – and, of course, the LNG project. It makes sense to focus our workforce there," Dr. Hession said.
InterOil stated the company also begun a new round of drilling as part of its exploration activities across almost 4 million acres in PNG. The company plans to drill up to eight wells in the next 12-15 months. The drilling of each well is expected to take about three months. Currently, 1100 people are working in the field on the seismic program and preparation for drilling operations. The commencement of drilling operations will employ an additional 300 people.
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Tree, just read this as well. This is what information needs to be put out by IOC. It shows forward momentum. Glad they put it out!!
