More announcements coming this week?

[SamAdams]

This is the way its supposed to work though.  Fundamental research.  Any other research firm could do the same thing, initiate coverage and arrange a trip.  Kick the tires.  Some on the trip may feel they learned something and draw conclusions, which might be right or wrong, but they derserve the advantage for a time by having gone, as long as nothing material is disclosed - that would have to be done publically.  That's why many still do the leg work and get out and visit companies and constantly talk to managements etc.  Maybe someday it will all be done by drones but nothing wrong with investors going on a field trip to see what they can learn.

[Palm]

Agree with that Thy and Sam. It's the nature of that business and people that expect the knowledge base to be equal and open just because "the rules" say it is supposed to be, will only get more and more frustrated. Like it or not the research arm of these places is underwritten by the brokerage side. Research used to be the bread and butter for IBs, but not anymore.

[SamAdams]

The job for us now is to reach to that travelling contingent and find out what we can. That's fair game as well. I'll try to do my part.

[Getitrt2]

Yeah right; that's the way it always doesn't work.

That's the way the laws and regulations require that it work, and it is wrong to say it "always doesn't work", although there certainly can be cases of non-compliance.  I think a lot of what you're referring to comes down to what is material or not.  Getting more "color" or understanding about subjects through direct contact does not generally mean you are being given material non-public information, and some questions will not be answered because of those disclosure requirements.  The restrictions are actually tighter now specifically for investment firm analysts than they used to be years ago.

The information release yesterday may have been done at least partly to ensure compliance.  As I said before, if additional material information becomes evident by the time of the visit, we may get another "news" release.  I think they will at least attempt to comply with regulatory requirements.

[Palm]

OK

[Getitrt2]

Are you saying I'm naive and they're all crooks all the time?! Aw, shucks!!!

[Palm]

Just having fun Getit

[Thylacine-2]

I agree, Getitrt2, that IOC will attempt to comply with regulatory requirements.

The PR read: " Raptor-1 has intersected 200m of the Kapau Limestone target zone, with wireline logs indicating the presence of hydrocarbons. InterOil now plans to conduct well testing to determine the hydrocarbon type, column, flow rate and reservoir quality."

Different opinions have been expressed as to whether or not the well has reached total depth. Some say yes, others of us, including Pet,say most likely not. I don't think clarifying this important issue for the field trip participants would in any way step over the line.

Then there is the matter of the "hydrocarbon type" being oil. After drilling 200 meters of the reef and running and evaluation wireline logs, IOC already has considerable information touching on the issue of hydrocarbon type. IMO if they had found no indications of oil, they would not have mentioned testing for "hydrocarbon type". Would it be a violation of regulations if the field trip participants came away with a better informed opinion of the likelihood of this being an oil discovery? Absolutely not. IOC has already disclosed, in the above statement, that the question of hydrocarbon type is open.

[SamAdams]

MH openly talked of oil on the Raptor trend on the July roadshow and referenced "oil seeps".  I thought it was a bit premature and given the copmany's past not a wise thing to build up any expectations of the black stuff unless they were sure.  I am by no means saying that is even close as I know there have been many oil shows in PNG without any big discoveries.  So to some extent MH has talked about that potential previously.  What this group comes away with will be interesting.  Best bet is to simply hope for another big fat pear shaped gas formation where we can stick one straw into it.  If there's anything more to the situation than than in the PR we will see it in the stock next week.  Easy enough to call your trader from the field.

[Getitrt2]

Just having fun Getit

That's what I figured, at least by the time I got the fairy.  Go to it, you got a smile, not a frown!