Way Forward - Vote YES

[katytrader]

IOC is being sold. No way around it. Supporting every 'Superior' proposal creates tension and forces all bidders to work toward their ultimate best offer. XOM came in ONLY because the OSH 'starter' bid which had shareholder support. Voting against incrementally better bids is suicide.

I'm trying to follow you here. Tou are suggesting voting yes on each subsequent bid prompts another bid correct?

I think it unlikely that shareholders will be asked to vote on multiple bids.  We have the ballots for the OSH proposal.  The next one will be for the final one accepted by the BoD, all others having been withdrawn.

[ArtM72]

IOC is being sold. No way around it. Supporting every 'Superior' proposal creates tension and forces all bidders to work toward their ultimate best offer. XOM came in ONLY because the OSH 'starter' bid which had shareholder support. Voting against incrementally better bids is suicide.

I'm trying to follow you here. Tou are suggesting voting yes on each subsequent bid prompts another bid correct?

I think it unlikely that shareholders will be asked to vote on multiple bids.  We have the ballots for the OSH proposal.  The next one will be for the final one accepted by the BoD, all others having been withdrawn.

The caveat to be added is a sale of PRL15 would not trigger the need for a shareholders vote as it would not be sale of the company.  That's why I believe there is a win-win-win scenario with IOC remaining independent.  Hession however would have to go.  Likely his BOD replaced shortley thereafter.

[CAC]

'Tree' = IOC is being sold. No way around it. Supporting every 'Superior' proposal creates tension and forces all bidders to work toward their ultimate best offer. XOM came in ONLY because the OSH 'starter' bid which had shareholder support. Voting against incrementally better bids is suicide. [/quote]

*******

i don't agree. The OSH offer is a joke and the XOM offer is barely better. If you are assuming a bidding war, then maybe IOC will be sold, but neither offer is good enough right now. As it stands, the company would not be sold.

Also, the idea that XOM will keep TOT honest on the certification is still questionable to me. XOM would be mostly passing through the TOT money to IOC so their self-interest isn't fully there to care (unless it's over the capped 10T number).

[kommonsents]

I have read Tree's posts here and believe it is clear, at least to me, that he is advocating a yes vote for each SUPERIOR bid to put pressure on the lower bid(s) to improve their offer, as is the case now with OSH/TOTAL original bid.

So we support each SUPERIOR bid that comes along.

I agree with that 100% and if you want more money for your IOC stock, you will agree as well!

Of course, the only way we have to vote at this time is to vote NO to the OSH/TOTAL bid which has already been deemed to be INFERIOR! So vote NO on that offer!

Tis simple, really, just vote YES to each SUPERIOR offer. I believe that is what Tree said quite clearly.

[katytrader]

I have read Tree's posts here and believe it is clear, at least to me, that he is advocating a yes vote for each SUPERIOR bid to put pressure on the lower bid(s) to improve their offer, as is the case now with OSH/TOTAL original bid. So we support each SUPERIOR bid that comes along. I agree with that 100% and if you want more money for your IOC stock, you will agree as well! Of course, the only way we have to vote at this time is to vote NO to the OSH/TOTAL bid which has already been deemed to be INFERIOR! So vote NO on that offer! Tis simple, really, just vote YES to each SUPERIOR offer. I believe that is what Tree said quite clearly.

Somewhere in the middle of Tree's post he indicated that a "Yes" vote now would remain and counted as "Yes" for subsequent votes on "superior" offers.  By the end of the post he seemed to be saying what you concluded about voting each time.  But if bidders have only three-day windows, one is likely to end up with only one more ballot on the final "superior" offer accepted by the BoD.  If TOT elects to enter, then we shareholders will just watch the elephants dance until only one is left.....then we vote.

[CAC]

[kommonsents' --I have read Tree's posts here and believe it is clear, at least to me, that he is advocating a yes vote for each SUPERIOR bid to put pressure on the lower bid(s) to improve their offer, as is the case now with OSH/TOTAL original bid. So we support each SUPERIOR bid that comes along. I agree with that 100% and if you want more money for your IOC stock, you will agree as well! Of course, the only way we have to vote at this time is to vote NO to the OSH/TOTAL bid which has already been deemed to be INFERIOR! So vote NO on that offer! Tis simple, really, just vote YES to each SUPERIOR offer. I believe that is what Tree said quite clearly. [/quote]

*****

Voting yes on a deal that you don't want?  Odd strategy.  What if you vote yes on it and there is no subsequent higher bid?  We still want the option to push ahead as an independant company don't we?  These bids are too low.

[petrengr1]

[kommonsents' --I have read Tree's posts here and believe it is clear, at least to me, that he is advocating a yes vote for each SUPERIOR bid to put pressure on the lower bid(s) to improve their offer, as is the case now with OSH/TOTAL original bid. So we support each SUPERIOR bid that comes along. I agree with that 100% and if you want more money for your IOC stock, you will agree as well! Of course, the only way we have to vote at this time is to vote NO to the OSH/TOTAL bid which has already been deemed to be INFERIOR! So vote NO on that offer! Tis simple, really, just vote YES to each SUPERIOR offer. I believe that is what Tree said quite clearly.

*****

Voting yes on a deal that you don't want?  Odd strategy.  What if you vote yes on it and there is no subsequent higher bid?  We still want the option to push ahead as an independant company don't we?  These bids are too low.

[/quote]

I am afraid the die has been cast. The institutional investors will decide what happens to IOC. I believe they will vote yes on the final bid and IOC will be no more.

[AU74]

[kommonsents' --I have read Tree's posts here and believe it is clear, at least to me, that he is advocating a yes vote for each SUPERIOR bid to put pressure on the lower bid(s) to improve their offer, as is the case now with OSH/TOTAL original bid. So we support each SUPERIOR bid that comes along. I agree with that 100% and if you want more money for your IOC stock, you will agree as well! Of course, the only way we have to vote at this time is to vote NO to the OSH/TOTAL bid which has already been deemed to be INFERIOR! So vote NO on that offer! Tis simple, really, just vote YES to each SUPERIOR offer. I believe that is what Tree said quite clearly.

*****

Voting yes on a deal that you don't want?  Odd strategy.  What if you vote yes on it and there is no subsequent higher bid?  We still want the option to push ahead as an independant company don't we?  These bids are too low.

I am afraid the die has been cast. The institutional investors will decide what happens to IOC. I believe they will vote yes on the final bid and IOC will be no more.

[/quote]

Many people believed the same from the get-go, but we put the fear of God in 'em.  No reason to lose faith now, no matter how many dies are cast.  Besides, voting NO apparently preserves your rights in the event of a successful lawsuit (law suite in jft's parlance).

[kommonsents]

[kommonsents' --I have read Tree's posts here and believe it is clear, at least to me, that he is advocating a yes vote for each SUPERIOR bid to put pressure on the lower bid(s) to improve their offer, as is the case now with OSH/TOTAL original bid. So we support each SUPERIOR bid that comes along. I agree with that 100% and if you want more money for your IOC stock, you will agree as well! Of course, the only way we have to vote at this time is to vote NO to the OSH/TOTAL bid which has already been deemed to be INFERIOR! So vote NO on that offer! Tis simple, really, just vote YES to each SUPERIOR offer. I believe that is what Tree said quite clearly.

*****

Voting yes on a deal that you don't want?  Odd strategy.  What if you vote yes on it and there is no subsequent higher bid?  We still want the option to push ahead as an independant company don't we?  These bids are too low.

I am afraid the die has been cast. The institutional investors will decide what happens to IOC. I believe they will vote yes on the final bid and IOC will be no more.[/quote]

And I agree with Pet.  The BOD has already approved selling IOC "in total" for the OSH offer and so they will also approve selling IOC for any subsequent Superior offer.

I do not see the institutional investors "going against the grain" and assuming huge financial legal responsibilities for doing so.  They will vote Yes to sell and move on, IMO.

Shareholders can vote No to try to preserve their legal claims against the PSO and BOD, but with a Superior offer(s) being approved, and arriving at the best offer here in the near future, I do not see a successful outcome for a legal challenge.

I also agree with Tree as I have posted elsewhere.  Vote yes for each successive Superior offer and get what we can get and move on.  I have been with this puppy far too long and will be lucky to make minimum wages for my investment.

I did not foresee this outcome, but then, I never thought our CEO and BOD would betr\ay us.  Boy was I wrong.

[jft310]

Fact institutions own less than 50% of Interoil shares on the last report date. The opportunity is the 18 million shareholders who did not vote last time. How to get them to vote???
Given a choice between OSH or Exxon stock there is no contest. What's interesting is what will Total do to conserve cash required under the IOC SPA???
Thus it appears today we get several more rounds of bids. We hear tomorrow night if OSH will up their bid.???Total can enter the bidding by themselves at any time. With billions on the line for Total expect some further interest of some type.