With the hiring of Dr. Michael Hession I believe IOC has likely hired the most qualified man available for the job/position of CEO. We need someone who is knowledgeable about exploration, LNG project construction and business management.
How does he qualify based on his education? He has a Bachelor’s degree in Geology, a PHD degree in Geophysics and an MBA degree.
How does he qualify based on experience? He has worked on some of the world’s major projects, both conventional oil and gas production, including one of the largest LNG projects. In these projects he has held senior positions with major oil and gas producers, having worked for BP and Woodside Petroleum Ltd., the largest oil and gas producer in Australia. To quote from the PR “Dr. Hession has over 25 years of international exploration, operation and commercial experience, most recently as a Senior Vice President at Browse LNG Development”.
So why is the share price acting so squirrelly? Looks like we had the usual short attack on good news that drove the share price down about $2 and the investors are still saying to IOC “show me the money”. We need the deal with Exxon to close. Further we need to bring in some new partners in all of the license areas as alluded to by Dr. Hession where he said “we expect to bring in additional partners to accelerate our activities”. I believe this work is already in progress and I look forward to announcements beyond the Exxon/IOC deal. Now we are making a come back with the help of the RJ article. We could use a little input from the other Analysts.