Thoughts on the OSH Deal, FWIW

[Palm]

IOC's "leverage" was the asset; Total wanted it and when they were able to pay later they knew IOC's weakness. MH bought time with the deal and received cash with which to try and prove up resources to try and gain more leverage; which he did to a point. But when Wahoo fizzled, it hurt badly, and then oil prices cratered.

IOC was quickly entering another point of no return IMHO. MH and they BOD likely heard from all directions that it was time to go.

[admin]

["IOC was quickly entering another point of no return IMHO. MH and they BOD likely heard from all directions that it was time to go."]

Well, if nobody wants you at the party but have no legal means to get you out, perhaps they should incentivize you to leave. Incentives, after all, is language that our board can relate to.

[Palm]

IMHO it was pretty clear from the get-go. Didn't seem to be much communication that included IOC by either Total or OSH. Were treated like ugly step-sister.

[katytrader]

["IOC was quickly entering another point of no return IMHO. MH and they BOD likely heard from all directions that it was time to go."]

Well, if nobody wants you at the party but have no legal means to get you out, perhaps they should incentivize you to leave. Incentives, after all, is language that our board can relate to.

  In thinking of leverage, I would think that a better deal could be had if a few of the funds let Botten's bankers know that they would tank the OSH share price if terms were not improved.   Timing should coincide with PNG election so that O'Neill adds pressure to sweeten.  After all, he and his government are benefiting from their OSH investment problem now looking like a wise investment in the future of PNG in the face of the continuing criticism of the legality of that deal.

[jft310]

We have leverage . The other parties want a deal and some may need a deal . If we reject this the world is still changed Interoil can be bought but at a better price . We need to find out what the better price is and the only way one gets there is to reject this deal . One can make it quite clear to for me to change my vote sweeten the pot . Phil can and I bet will articulate that position .