04-12-2013, 05:43 AM
I continue to recall the philosophy of a company which became more than a twenty (plus) bagger for me when I was considerably younger. Nucor Steel was run by a guy, a metallurgical engineer, Ken Iverson, who said treat your people right, your host communities right and your suppliers right and what will result is your stockholders will be well compensated.
Just as Iverson and Nucor did in developing steel mini-mill and related technologies, Mulacek and IOC appear to be doing with their own trail blazing in the natural gas field. Sure, times were different then, but I think Iverson had locked onto something fundamentally important. I believe Mulacek is setting the stage for a similar story.
Let the shorts have their fun for now. IOC is a solid company with a lot of friends in PNG. And IOC will be the lowest cost/highest margin gas producer in Asia Pacific.
Just as Iverson and Nucor did in developing steel mini-mill and related technologies, Mulacek and IOC appear to be doing with their own trail blazing in the natural gas field. Sure, times were different then, but I think Iverson had locked onto something fundamentally important. I believe Mulacek is setting the stage for a similar story.
Let the shorts have their fun for now. IOC is a solid company with a lot of friends in PNG. And IOC will be the lowest cost/highest margin gas producer in Asia Pacific.